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The author of the Lundberg Survey says prices at the pump have been creeping back up after bottoming out about seven weeks ago. He says the increase is due, in part, to demand. People are starting to buy more gas due to the low prices, and it is causing demand to rise. … Despite the rise, drivers are still paying less than a year ago. The nation wide average was $2.84 in 2008. Right now unleaded is about $1.92/KREM2. More here.
Question: What price is a reasonable one to pay for gas?
D.F. Oliveria is a columnist and blogger for The Spokesman-Review. Huckleberries Online was judged the best 2008 Idaho newspaper blog by the Idaho Press Club. And the best 2007 news blog in the Pacific Northwest by the Society for Professional Journalist. Print Huckleberries is a past winner of the Herb Caen Memorial Column contest by the National Association of Newspaper Columnists. The Readership Institute of Northwestern University cited this blog as a good example of online community journalism.
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zelda on February 09 at 2:08 p.m.
I’m going to step in it and say that nobody should be looking to KREM2 or any local TV station for analysis of commodity prices. The type of man-on-the-street interviews they favor are with people who think that the Sikh clerk at the 7-11 is an Arab in cahoots with OPEC.
The best price for gas is whatever makes people change their minds about driving an SUV as their primary vehicle.
The price of gas depends on supply and demand, speculation and refining capacity. When it goes too high, there is demand destruction and another sort of chaos ensues. If you’re a tank-is-half-full kind of person, the good news is the Russian and Venezuelan governments are in turmoil because of low demand for gasoline. If you’re a tank-is-half-empty person, the governments of those countries might resort to desperate measures to stay in power.
Escapee on February 10 at 12:29 a.m.
What goes up…must come down…or will it?