What’s With Gas Prices?

Well gas prices are up to $3 a gallon again so when George Bush was President we blamed him so why are they up again?  I don’t see Obama doing anything about it.  Ugh.  – Deb, Dracut

Actually I blamed the oil companies when gas prices were soaring not too long ago.  But blaming Presidents works, too.

And prices are definitely going up.  Today AAA reported that average gas prices in Mass. went up 4-cents per gallon last week and a dime over the last 2 weeks.  Just in time for us all to drive to Grandma’s house for Thanksgiving, make multiple trips to the mall to buy presents, and then travel again for the holidays.

Some analysts are saying the recent price increases aren’t a supply-demand thing, but probably have more to do with a weak dollar and speculation on commodities, like oil.  It might also have something to do with refineries producing more heating oil at this time of year.

slide23 ap Whats With Gas Prices?

credit: AP

Deb wants Pres. Obama to do something, but how much power does the president have over these global markets?  Why do you think gas prices are going up?  How high will they go? And how high do they have to go before you drive less?

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