Fuel Prices

[Unit 5302]

Well, it's not really fair to put in a vote nearly 1 year after the last comment whoever you are. Especially since average price has peaked over $3.00/gallon already.

Oil companies have fanned the flames of speculators, allowing oil prices to continue to surge. Add in the shutdown of the Alaska oil pipeline due to "corrosion" which must have come on suddenly for it not to be noticed until now... right when prices are already at an all time high, and we have a lovely combination of price gouging, price fixing, insider trading and market tampering. All highly illegal, but with an oil tycoon connected President, and unmotivated regulatory bodies, Americans should keep practicing the ankle grab. I still find it amazing that their is always a good reason prices are so high these days. For the past few years, big oil has been able to point the finger somewhere else. Hurricane Katrina, the Iraq War, mysterious refinery issues, high consumer demand, lack of the correct formulations. Seems like they've had an unending string of events that just keep happening to make sure gas prices don't fall, and amazingly enough, record profits are recorded every year, if not every quarter...

Gas prices are a large part of why the federal reserve was unable to justify an additional interest rate hike, which given the rest of the economies situation was warranted.

I'm actually quite surprised US auto manufacturers haven't been outspoken about the current fuel prices considering their slumping sales and recent focus on R&D for the waning truck market.