Gas Prices: Up, Up and Away!

I’ve got it on really good word that Jason’s One Man’s Opinion is all about the rise of postage this week and since I use about 5 stamps a year, I’m going to leave it all up to him.

Instead, let’s talk about gas prices here in the USA. It seems to be a news story every other day on how the prices are continually going up. Here in Phoenix the price of regular is right at the country average, which is $3.15 a gallon. Well, actually, $3.15 9/10…. Can’t we all just give in and give up that freak’n 1/10 already?

Anyway, if you compare that to other countries in the world, we are somewhat better off, and somewhat NOT. Thanks to my fine friends at Google, it appears that the gas prices average the following for the following countries:

(All have been converted to US dollars per Gallon for comparison sake)

  • Reading, UK 5.56
  • Hong Kong 5.62
  • Rome, Italy 4.86
  • Seoul, Korea 4.71
  • Sydney, Australia 2.63
  • Shangai, China 1.48
  • Caracas, Venezuela .14

Now, are you still with me? Good. Going through that quick list, you can see that gas prices are all over the place in the world….depending on so many factors. Who owns the oil, number of refineries you have in your country, what type of government you have, etc, etc.

So, here in the United States, how much is too much? Well, the answer really goes back to what I learned in economics and the fundemental logic of supply and demand.

Gas prices are currently at an all time high.
Our consumption of gas is also at an all time high.
It’s definitely not dropping anytime soon.

Anyone remember that Seinfield episode where Kramer and Newman had an elaborate plan to drive to another state where they could get more money for their recycled cans??

Well, anyone have any idea on how to import gas from Venezuela?

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MightyB

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05 2007

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