Domestic Policy

Gas Should Be Cheaper At These Oil Prices

May 23, 2006 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

Memorial travelers should have no problem finding cheap gas this holiday weekend, or at least that’s the way it should be. The only thing that has fallen faster than the cost of a barrel of oil the past week is the Presidents approval rating and this should be good news for travelers. However, the gas gouging baton has been passed from the oil companies to the commodities traders and now to the local gas stations. The price of a barrel of oil should result in gas prices of 2.50$ a gallon or less, if you see anything higher than this you are being gouged and you should report it as well as avoid that gas station.

Oil prices are threatening the middle to lower 60’s and this should drive down the price of gas immensely. Couple the low oil price with the abundance of available oil and there is no legal reason in the world why drivers in America should be paying over 2.50$ a gallon for gas this holiday weekend.

The price of oil is at its lowest level since April 10. Rising inflation is considered to be one of the factors which may force central banks to target higher interest rates, in turn slowing growth and cutting demand for commodities. This is all good news for drivers in America who have been getting gouged from all sides in regards to traveling for any reason.

Various other commodities are on the downslide as well. Silver fell over three percent to a four-week low while gold has dropped about three percent.

Commodities strategist David Thurtell, who is a strategist at the Commonwealth Bank in Sydney stated, “Oil prices have suffered a hangover with the fall in other commodities …They were too far out of line with fundamentals and could still have further to fall.”

A report by the United States Government recently showed that domestic motor fuel stocks rose for the third consecutive week. The enlarging stockpile has helped alleviate concern that changes to cleaner-burning fuels would cause supply problems during the peak demand summer driving season.

If Washington wants to do something for its people why don’t they investigate more heavily the gas gouging still going on? Why do they drop the issue so fast, let’s get these un-American criminals, how dare they think they can get away with taking advantage of their fellow Americans.

Gas And Oil In America

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