Gas Lowers…For Now.

November 11, 2008 at 10:09 pm (Uncategorized)

I don’t know about any of you, but gas prices are under 2.00$ in most places. Now, this is great news and people are telling me its awesome…

I can get half a tank on 20 dollars!

-Cory Garza

Gas is cheap!

-Gigi Weingarden

I can fill up for like 40 bucks.

-Cody Hess

I know this recent lowering of gas prices has created a higher demand (or at least people are more willing to fill up) because the price has temporarily lowered. The biggest thing I wanted to point out is the fact… why did the price rise to over 4 dollars in the first place? Is there really a need or a fiscal reason why the price needed to double. The gas companies are reporting record profits in February but yet by June… the price soared.

Exxon shatters profit records

Oil giant makes corporate history by booking $11.7 billion in quarterly profit; earns $1,300 a second in 2007.

I feel as though the gas companies are just playing with prices and raising higher and higher to see how much people will pay for gas before they are forced to cut back. I wish that companies who control such an in-elastic resource need to provide more proof in why they are raising the price. I haven’t noticed nearly as much new coverage on the need to drill for more oil, or how to relieve gas prices. I guess its because the gas prices have fallen that people have suddenly forgot about how bad the prices got in the Summer of 2008/2007.