Yesterday, gas in my small Southern Illinois town was $3.53 a gallon for regular.
This morning, it was up to $4.25 a gallon for regular.
Gas went up 72 cents a gallon. OVERNIGHT.
And of course, after FIVE YEARS of filling the Strategic Oil Reserve, Bush has yet to release a drop of it.
That is what I thought the Reserve was for - to moderate prices in EMERGENCIES - like a big hurricane that shuts down production in the Gulf.
Unbelievable...
Now, there are reports coming in from all over the place - gas is over, or approaching, $5 a gallon, in Texas, Tennessee, Arkansas, Florida, Michigan, Georgia, and Kentucky. The Governor of Kentucky has issued a State of Emergency and activated the anti-price gouging laws. There are reports of stations closing, of fights breaking out at gas stations, of hours-long lines to get gas, and even talk of nationwide gas rationing by Monday.
Prices in towns near mine are currently ranging from $4.25 to $5.98 a gallon, and at least two towns are reported to be totally out of gas.
UPDATE: More stories pouring in. Now North Carolina has activated their anti-gouging laws. Shortages and spiking prices are spreading. Here's a few links:
Gas prices head toward $5; continued supply problems expected
Gas prices rising across Kentuckiana; some stations rationing
AG: motorists concerned about rising gas prices
North Carolina activates anti-gouging law as gas prices spike