Tuesday, October 24, 2006

Wait a minute...

I've noticed for a little while now that gas prices have been creeping downward, slowly but surely. Today, we actually broke the $2.00 barrier again today and I was able to fill the tank at $1.99/gallon. I honestly couldn't remember the last time we were at that price, so I did a little research and here's what I found:

(info obtained from New Jersey Gas Prices)

So, the answer to my question is that we were at this price level in March '06 and December '05. There were a couple of other interesting points I gleaned from the chart:
  1. The crude oil and pump prices were on a gradual increase until Katrina, at which point there was a severe spike in the prices. After that spike (and numerous protests from angry constituents), the prices came down over a two-month period to the levels of December '05.
  2. The increase in the price of crude oil during Katrina didn't correlate with the price increase at the pump, as shown later in the year. To me, this definitely brings up some questions as to the intentions of our esteemed oil companies during that time, who still haven't truly been held to task on this issue.
  3. The more gradual the price increase since March, the less attention this issue was given by the MSM. Since the hit wasn't as immediate this time around, the perception is that people got less aggravated about it. However, I can't imagine that's the case since the cost of fuel gets passed to the consumer in multiple ways (e.g., natural gas, car, airfare, shipping).
  4. The recent decline started in August, now reaching our December '05 point.
I haven't seen anything in the media or the campaigns about this fact. What's behind the prices coming back down this much? Is this an election ploy to remove the effect of gas prices from the voting equation? If so, how come no one is bragging about it? If not, then what is behind crude oil's price coming down around the same time?

A lof of questions, I know. It's 2006 and we've only just begun our detox program to get off this oil stuff. A long way to go, indeed.


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