Oil Prices dropping, but gas prices at the pump remain the same.
Monday, July 28th, 2008I know some people say that it takes times for oil prices to work their way through the market before gas prices at the pump adjusts. I want them to consider this: If there is an earthquake, a chance of increased hostility overseas, a penguin sneezes somewhere cold, and we see instant increases in the price we pay for our fuel. This is due to “speculation” or “market forces” or some other culprit. The point is should oil prices increase our costs increase almost immediately.
However, it appears the reverse is not true. Due to some decent production levels, and new regulations put into place to reduce the power speculators have to drive up the price of crude oil, we have seen some impressive drops in the price of a barrel of oil recently.
One might think that with such a break, the price of gas would do a corresponding drop as well….but no. It IS true that prices have dropped…a few cents. A tiny token, designed to appease the masses, but a token that tells us shortly the price we pay will be skyrocketing once again.
I suppose we should be grateful for even this short delay in yet another price increase, but for me, I fear what happens when the greed of the corporations demand we pay a cost for our fuel we simply cannot pay.
And that day is rapidly approaching.
Perhaps it is time to embrace a new form of transport, whether an electric vehicle, or if it becomes successful, a hydrogen fuel cell car. Some form of change is in our near future, the only question that remains is what can we do to weather the transition?
A good thought to consider for a monday morning 