Gas: Pain at the Pump – Reloaded
Posted by heymoe on December 7th, 2008
A little over 6 months ago I posted about having to pay over $4/gal for Premium Gas. What seemed like a never ending upward trend in gas prices, due to wall street speculators in the energy-futures market (IE: Crude Oil), has seen a rapid decline in the last month or so. I mean why base the price of something on actual market fundamentals when you can have speculators look into their crystal ball and set the price of something based on what they think the future demand for it is going to be. It sounds like a Win-Win right.. NOT!
In any case, today for the first time in my current car, I paid under $2/gal for Premium Gas ($1.889 to be exact). Total cost: $31.50. Prior to today the cheapest I’ve paid for gas in my current car was $2.219 back on 11/2006. Yes, I’ve been keep track of my mileage, gas prices, etc during each fill-up pretty much since when I bought the car. Call me crazy I guess.
Any ways, It would have been nice if the government would have been proactive to curtain index speculation in the energy markets instead of waiting for a melt-down in the financial markets, which the goverment themselves caused by turning a blind eye on the mortgage industry instead of enforcing the regulations that could have prevented or limited the mess we are in right now but I digress.
