Wednesday, August 16, 2006

Skyrocketing Gas Prices?

People are afraid of gas prices rising thanks to the news that BP has neglected one of their main pipelines in Alaska. Here in Seattle, I’m told that half of our crude oil comes through that particular pipeline. Analysts on the local news stations were predicting an immediate return to $3 per gallon gas, with $4 looking to be a strong possibility.

Gas has dropped ten cents since that announcement. And if history is any indicator gas will slowly drop in price until around February, which is generally when gas is the cheapest in Seattle. As soon as gas drops below $1.50 per gallon people will stop hearing me complain about it being too expensive. I’ve only paid more than $3 for gas on two occasions although the average price of gas did reach $3.30 around here a few months ago. That does get quite expensive when I’m burning 20-25 gallons per week just going to and from school.

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