Expect to Start Paying More at the Pump in the Capital Region
Gas prices in the Capital Region are surging and you can thank all the traders on the world market for that.
Legit this just seems ridiculous to me. Gas prices have jumped more than 20 cents per gallon nationally since Thanksgiving and it's really for no other reason than that some guy told another guy that it was going to and when word spread and enough people believed it was going to happen, it did.
According to News10 it has nothing to do with supply and demand in fact there is ample amounts of gasoline available for purchase at the moment. Actually gas (when inflation is factored in) has gone down in recent years:
Right now the price for gasoline is cheaper than it was 30 years ago because the tax has gone up from five cents a gallon to 75 cents a gallon. The price for gasoline itself has actually gone down as adjusted for inflation
So why is that all of a sudden we are seeing a recent hike in gas prices? Essentially it's because gas prices have been at a relative stalemate. Or you know, a rather constant price for some time. So some dudes in the stock market decided to tell everyone that "Gas prices were going to go up" so everyone jumped on that bet and what do you know ... gas prices went up.
For real, this is how the world economy runs. On the upside it doesn't seem like prices are going to soar too much higher before gas prices start to fall a bit again (you know as long as there is no world disasters or anything). So for now we can sleep easy assuming they well stay under 3 dollars a gallon ... at least for now.