When is it going to stop? Yesterday, I pulled into a gas station and for $10.00 only got 4 gallons. Gas prices have reached an all-time high in Colorado. The Denver Post reports:
Colorado’s average price rose Monday to $2.28 for self-service regular, up five cents from Friday and surpassing the previous record of $2.27 set in April.
What’s causing the rise? Here’s one excuse I’m not buying:
The increase reflects recent record highs in crude oil brought on by strong global demand and fears of supply disruptions from hurricanes or potential terrorist attacks.
Potential terrorist attacks? And the connection, not to mention the likelihood, is? I’ m no economist but I also have a hard time buying into this:
Despite Monday’s rise to nominally record prices, gas is still a bargain when adjusted for inflation. The nationwide average price of $1.42 in March 1981 would be equivalent to $3.11 in today’s dollars.
What about if you compared it to 1971? That’s when I moved to Colorado and I remember that gas was $.26 a gallon then — the same price as a pack of cigarettes.