4/22/2007

RISING GAS PRICES


Remember when gas prices were 50 cents a gallon cheaper? Now recall the Iranian hostage crisis of a few weeks ago. What happened during and after that little adventure? Gas prices rose. Do you think that’s what Iran had in mind?

They make tons of money selling oil. Low prices work for us, and high prices work for them. So now we’re at $3.09 for a gallon of regular gas at the corner station near my home. Do you expect the oil companies run by G. Bush’s friends to raise a stink about prices?

What are you accepting this?

3 comments:

sk said...

There are signs of people doing something about it. There is a gas out day, there is a campaign to not buy from ExxonMobile stations - with gas such a necessity, we can't choose whether to buy or NOT but we can vary other parameters like, where to buy, who to buy from.

In a similar vein, on my website www.bullseyepredictions.com I offer recommendations on WHEN to buy - the price hike upset me enough to start an update daily - 3 day “gas cast” - I use predictive analytic techniques to forecast the cheapest gas day in the next 3 days - in backtesting, it did pretty well. I use the NYMEX spot price data to forecast retail prices into the short term.

Ultimately these things have political solutions, but in the meantime, leveling the information field between consumers and producers in the market place is of value too.

Hilary said...

$3.09--not so bad! The station around the corner from my apartment is $3.41...for 87!

S. Neil Vineberg said...

I have heard about bullseyepredictions.com and appreciate your sharing it with my readers.