Gas Prices Continue to Soar

Gas prices just will not stop going up. According to AAA gas prices are up nearly 21% from a year ago and 9.7% over the past month. There were several news articles this weekend about how gas prices have affected people’s everyday lives and their vacation plans. A report also came out that said that Americans drove 11 BILLION less miles in the month of March than last year!!!

-Gasoline-Price

This chart from http://zfacts.com/p/35.html is fascinating to see how world events have affected the price of oil (note: this chart is converted to look at all these events in history in today’s dollar)

So we see the financial impact of the cost of oil ripples across our lives, food prices have gone up, even the cost of public transportation has gone up as a result of oil prices. Even independent truckers are selling their rigs and getting different jobs so that they do not have to pay for gas because they are not able to make a profit. How can we make changes in our lives to save money…

Carpooling:

  1. Craigslist (http://www.craigslist.com) now has a section for rideshares. Many of the posts are people looking for carpooling options Mon. – Fri.
  2. Ridester (http://www.ridester.com) looks like a new website but it has the infrastructure to easily find the ride you are looking for.
  3. Google, just search carpooling or rideshare with the region you live in and you will find a regional board of postings for carpooling. I found several in the western states and cities.

Other modes of transportation:

  1. Walk to you local stores, library, park, pharmacy..etc. The exercise will do you good too.
  2. Bike to all the same places listed above. You can probably ride your bike alot faster than you can walk so the distance you can go to get what you need greatly increases.
  3. Bus, train, subway…etc. There are far more bus routes than you think. I live in a suburban area but I can get to the closest big mall by taking a bus. It may not be the most convenient thing but it is possible for me to do.

While this is all easier said than done if you can figure out a way to not drive your car one day of the week every week it will be like not driving for almost two months a year… you would save alot of money.

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6 thoughts on “Gas Prices Continue to Soar

  1. from http://www.modernwhig.org. This is a national organization of 3,000 members that includes hundreds of deployed servicemembers and caters to mainstream voters who cherry-pick between traditionally GOP issues and traditionally Democratic issues.

    THE “TAG ACT”: The Maryland Chapter of the Modern Whig Party is joining with the National Party on a major advocacy campaign. Our members will soon be contacting lawmakers in a coordinated campaign to promote the “Tag Act.” This initiative seeks to pass a law mandating that gas stations post where their oil is coming from. This is a take on the current practice of labeling such items as toys and clothing with “Made in China” or “Made in the USA.”

    The idea is to empower consumers with the knowledge of where their gas is coming from. For example, many people may not be aware that Citgo gas comes from Venezuela — an OPEC nation with a government hostile to the US. If consumers then alter their gas purchasing practices, it can have an effect on overall gas prices. For more information, please contact us. There also will be more information in the coming days.

  2. It’s not just speculation. For some reason the press forgets the other major reason — it’s a lack of refining capacity. This has been an issue for years! The government should make oil companies spend a percentage of their TAX BREAKS on new refining capacity.

  3. The oil and gasoline companies have a good long term branding strategy, but their short term strategy is another story. Somewhere along the line they forgot what the target market really wants and that is gasoline that will save them money.

  4. WOW! $3.79 I haven’t seen that in a while. The cheaper stations near me are $4.25 and up.

    I feel sorry for the many who live in places where walking and biking are not an option. How are they to cut back?

  5. I’m tired of high gas prices, I live in florida. It takes me 10 miles to the nearest gas station.
    but all i can do is search for ways to make my cash and gas strtch..
    I search the web for gas give aways … like the $500 gas card site i found

  6. One reason is we have seen the price of oil more than double from $60 to $135 is just over two years without major supply disruptions. We have also been plagued by manipulation in other energy markets.

    Enron and others manipulated the Western electricity markets in 2000 and 2001 and cost consumers over $40 billion. In light of that, Congress gave the Federal Energy Regulatory Commission new authority in the Energy Policy Act of 2005.

    Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the wholesale electricity and natural gas markets. We’re going to hear today from FERC’s Deputy Director of Investigation and Enforcement on how FERC has used its new authority to root out manipulation in physical electricity and natural gas markets.
    To date, FERC has used its new authority to conduct 64 investigations resulting in 14 settlements totaling over $48 million in civil penalties. We have seen the very same energy traders move from Enron to Amaranth, and American families and business alike have the same concerns about potential manipulation in our oil markets.

    Last December 2007, Congress granted the FTC anti-manipulation authority in the Energy Bill. Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale.
    During the hearing is was reported Michael Greenburger (the former speculation committe chairman) reported that gas could drop 25 to fifty percent. If spectulation could proprerly regulated would get prices back under control would drop the almost right away. These controls were removed in 2000.

    One reason is we have seen the price of oil more than double from $60 to $135 is just over two years without major supply disruptions. We have also been plagued by manipulation in other energy markets.

    Enron and others manipulated the Western electricity markets in 2000 and 2001 and cost consumers over $40 billion. In light of that, Congress gave the Federal Energy Regulatory Commission new authority in the Energy Policy Act of 2005.

    Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the wholesale electricity and natural gas markets. We’re going to hear today from FERC’s Deputy Director of Investigation and Enforcement on how FERC has used its new authority to root out manipulation in physical electricity and natural gas markets.
    To date, FERC has used its new authority to conduct 64 investigations resulting in 14 settlements totaling over $48 million in civil penalties. We have seen the very same energy traders move from Enron to Amaranth, and American families and business alike have the same concerns about potential manipulation in our oil markets.

    Last December 2007, Congress granted the FTC anti-manipulation authority in the Energy Bill. Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale.

    Americans may be surprised to learn that our oil futures markets were substantially deregulated by CFTC staff decisions that were made behind closed doors. This “London-Loophole” and now the “Dubai-Loophole” is keeping important U.S. energy trading in the dark. And without proper light manipulators have free reign.

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