I drive by my local gas station every morning on the way to the train, and over the last 3 days I noticed a sharp rise in the price of gas:
Tuesday night: $3.43
Wednesday morning: $3.44
Wednesday night: $3.44
Thursday morning: $3.45
Thursday night: $3.64
Gas jumped $0.21 in a matter of 3 days, $0.19 of that in less than a day.
Why is the price of gas so high, and still rising?
The statistics show that production is up and demand is down (although China is booming, which has some impact).
4/16/2001 $1.75 (+06.86% from 2000)
4/15/2002 $1.59 (-09.15% from 2001)
4/14/2003 $1.79 (+11.18% from 2002)
4/19/2004 $1.99 (+10.06% from 2003)
4/18/2005 $2.43 (+18.11% from 2004)
4/17/2006 $2.99 (+18.73% from 2005)
4/16/2007 $3.08 (+02.93% from 2006)
4/14/2008 $3.61 (+14.69% from 2007)
(Source: Energy Information Administration).
I’d love it if someone could take this table, import it into a spreadsheet and do a per-country breakdown to see the trending of gas prices rising and falling.
We have more oil stockpiled than we need, and we’re not using it as fast as we used to, so why has the price of gas gone up 54.85% since 2000.
It makes no sense whatsoever. Gas prices go up sharply, but come down very slowly. We can’t sustain this market if the price of gas is going to keep increasing like this.
I found this neat gadget over on zFacts:
And before the Canadians and Europeans jump on me for ranting about paying such a “cheap” price for gas, let me remind you that YOU have more-efficient vehicles, better EPA standards and your public transportation is FAR better than even our best in the US. Your roads also allow and encourage people to walk, cycle, rollerblade and so on.
Here in the US, in most cities and towns.. you’re not only discouraged from using bicycles/walking on the roads, it’s downright forbidden.
When I go to the stores now, I don’t even use plastic bags for most of my purchases. Plastic bags (and plastics in general) are made from petroleum, and petroleum comes from… you guessed it:
It’s always about oil.