July 02, 2008

Gas Prices- When Will It Stop

There is an ongoing discussion among friends and family regarding gas prices. There are a few key components of this conversation:

1) Anger/disgust at how rapidly the price has risen.
2) Questions about what is fueling the rise.

Take a look at this CNN/Money excerpt:
"Gas prices are now about 3% higher than last month and 38.5% higher than year-ago levels."
An increase of 38.5% in a year, are you kidding me. Are there any readers out there that can offer a logical explanation for this. Can anyone else name a product that is used with the same frequency and need as gas that has experienced a similar exponential increase in cost.

4 comments:

Ezzie said...

It's insane...!

Z said...

I don't believe, despite the push to blame it on supply and demand, that it IS rising because of market factors. I believe it has to do more with paper barrels than with actual ones.

Deadman said...

It's the result of futures trading, something which needs to be stopped immediately, especially in light of the fact that futures traders are leeches on society.

Jack said...

Ezzie,

And how.

Z,

Absolutely.

Deadman,

Futures trading? I hadn't heard that.