I read an article on Time.com today. It's entitled Oil Prices: It Gets Worse, and it talks about how the International Energy Agency, who usually has a low-key energy outlook, is sounding the alarm about gasoline prices in the not-so-distant future.
So, I went back and looked at my checkbook (in Quicken) to review a few things:
- What was the most I paid for gas in 2006?
- What was the price of crude at that time?
- What was the most I paid for gas this year (2007)?
- What was the price of crude at that time?
What I found ... (over the fold)
Week I Paid the Most | What I Paid per Gallon | Price of Crude That Week |
14-Aug-2006 | $3.03 | $77.95 |
13-Apr-2007 | $3.30 | $64.35 |
Now, back on Sep 20, 2006, I penned Ode to Oil Companies Giving Indirect Funding to Republicans about how the highest gas prices at the time were going to drop in order for us to not tie Republicans to the cause of these high prices. And, that once the elections were over, prices would start going right back up.
As you can see, prices went up and were substantially higher in April 2007. But, the prices have come down a little, again, and are slowly creeping up, little by little.
Last week (the week of Nov 2, 2007) the high for crude was: $96.10
Wow!
So, why aren't prices at the pump reflecting the higher prices now? I mean, don't get me wrong, I don't want higher prices. But, are prices being kept low so we don't pop a cork?!
I would've expected gas to reach nearly $4.00/gallon based on this surge in the crude prices. They jumped in 2006 when crude prices were climbing.
So, I wonder, are the prices being kept low - is someone / some group subsidizing the cost - in order to keep us from really going ballistic over the price of gasoline because of the mess, distress and unrest we're causing in the Middle East? Are the big oil companies who support/supported the Bush Administration digging into their repulsive profits from the last two years in order to keep prices lower than one would expect (based on their past behavior) in order to keep us somewhat sedated on this issue?
I just have to wonder ... aloud.