Who Do You Blame For The Spike In Gas Prices?
Ask 10 different people and you might get 10 different answers as to why gas prices have spiked sharply in September.
The facts are indisputable. According to AAA, the average price for a gallon of gas in Massachusetts is presently $3.88. That's a whopping 16 cents higher than it was just one month ago. The price has actually soared to over $4 a gallon at some Essex County self-serve stations. For a list of the gas stations in Reading and North Reading selling the least expensive fuel, click here for our Commute Page. Ask 10 different people to explain the cause of the off-season spike and you might get 10 different answers. Some have blamed OPEC, while others have blamed big oil companies. A recent rash of severe weather has been seen as a cause by some people, as have the energy polices and proposals of one political party or another. Still other people…
Ron
7:02 am on Friday, September 14, 2012
It's easy. Commodity brokers can drive oil, or any commodity in any direction they please. They price based upon perceived public fear. Get a storm "somewhere near an oil producing field" and you go higher most times, whether it has a real impact on supply or not doesn't matter. It's an excuse to make big money quick. more ›