Wednesday, May 28, 2008
The Price of Gas
I'm sure there are some who are taking advantage; however, the biggest factor is not all that complicated...
John Porretto and John Wilen tell about it in the Washington Post:
"It all starts with oil.
The biggest factor in the skyrocketing price of gasoline is the historic ascent of crude oil, which has surged from $45 per barrel in 2004 to more than $135 this past week, setting new record highs all the while.
In the first quarter of this year, based on a retail price of gas that now seems like a steal _ $3.11 a gallon _ crude oil accounted for all but about a dollar, or 70 percent, of the cost, according to the federal government."
