Saturday, May 24, 2008

I have got to vent just one more time about the recent gas price surge. On Tuesday morning I bought gas for 3.75 at a gas station near my house. This morning, four days later, gas is now 4.09 at the same station! That is a whopping increase of 34 cents in four days! this going to stop? I have read conflicting reports over the past couple of weeks regarding gas prices. Some suggest this current surge is a bubble just waiting to burst and that the current market forces estimate gas should be about 75 dollars a barrel at the present time. Others suggest, it is headed towards six dollars a gallon. I hope and pray the bubble burster senario is the correct one because if it is not than inflation and recession are headed our way. Living in California can be a real drag because many of our cities are so spread out and many of us car pool long distances to work. In my case, I travel almost 80 miles to work each day. Thank goodness summer vacation is almost here. This year I may have to forgo going anywhere because of the outrageous gas prices. I guess I can get just ride my bike up and down the neighborhood and watch Planet Earth/National Geographic on my big screen t.v. and "pretend" I am on vacation.


Dave said...

We are at $4.19 and 9/10ths p.g. for the holiday weekend here in MI. But wow, 80 miles btw home and work? My commute is more like 8 or 9 miles. Not too bad, even though it's a busy, boring road to drive on, complicated with construction zones this time of year.

These prices are cramping many family budgets and our economy is going to be hurting badly if everyone's disposable income gets eaten up by extra expenses for gas and groceries.

Bilbo said...

4.19...We will catch you by Monday. The only reason I suspect we are not higher is that ARCO is the leading gasoline provider in my neck of the woods and ARCO comes from Alaska...I can't help thinking if this will mark the beginning of one of the worst economic downturns since the early 1970's. I am not making any predictions...and...I have been wrong before...but...there are just so many bad economic indicators on numerous fronts.