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Gas Goes Up Again!

Wednesday, May 2, 2007. 4:33 pm. Posted by Josh.

Well I just drove past my local gas station and saw that the price for unleaded Ethanol (89 octane) went up another 13 cents to $2.95 a gallon. I have never yet had to pay $3.00 a gallon and I hope prices drop a little very soon so I can keep this streak going. Comparatively, my part of the country (Iowa) has it pretty good for gas prices. This is probably partially due to the fact that we grow so much corn here that can be used in Ethanol blends. I hate to think about buying gas in Hawaii. When I was there four years ago, it was already around $2.50 a gallon.

I wonder what the recent upturn is about. I haven't heard anything about the price for crude skyrocketing. In fact, it's sitting at around $65 a barrel right now (down .7% today) and that's a bit cheaper than when we were over $70 a few months back. I also haven't heard of any natural disasters affecting supply. So what gives? Maybe anticipation for memorial day weekend? Too early probably. Maybe it's just the oil companies trying to sneak a little extra past us while other things are looking 'good' (i.e. core inflation rates stable, interest rates stable, Dow Jones setting record highs over 13,000)?

Whatever the case may be, it makes me really want a hybrid.

Posted in: Finance , Gripes , The Environment
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