Gas Prices Spike, Should Go Back Down

Chevronstation

Hurricane Ike headed right to the heart of the U.S. oil-refining industry, but by most early reports it didn’t cause as much damage to the country’s gasoline infrastructure as was originally predicted. That hasn’t stopped gas prices from shooting up over the weekend to a national average of $3.84 this morning.

Even with limited damage, refineries have still been shut down for the entire weekend and into this week, limiting the national supply of gas. Some analysts are saying there could be shortages in certain areas, but that they shouldn’t last long.

The rapid escalation in prices was the steepest spike since Hurricane Katrina and Hurricane Rita.   

Pump prices soar after Ike (USA Today)

By David Thomas | September 15, 2008 | Comments (4)
Tags: In The News

Comments 

J

That is just simply gouging!

Troy S.

I wish my Paycheck would spike to help offset the "pain at the pump".

Red

Despite this current spike, you have to hand it to the American people for changing their habits; driving less and choosing more sensible vehicles since the run-up in gasoline prices. The cut in consumption has already pushed oil down into the $95 range per barrel. Let's all keep doing what we've been doing, and we'll see gasoline below $3 per gallon before the end of the year. The market does work, and consumers will soon have the upper hand over the speculators.

J

Red,

That's totally bull.

If the American people are really beginning to care about the mileage, then I won't get honked, flicked off, almost got ran over EVERY SINGLE DAY so that those retarded idiots can stop at the next red light.

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