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  • Chart of the Week: Winter Gas Prices Reach All-Time High

    The cost of gasoline today is at its highest point ever during winter, an ominous sign of what might be on the horizon in the months to come.

    According to government data from the U.S. Energy Information Administration, the average price of regular unleaded is $3.34 over the three-month period of December, January and February. The current national average is even higher: $3.65, according to the latest figures from AAA.

    Last December, motorists encountered the highest-ever price for gas at Christmas in history. Today drivers in California are paying on average of more than $4 per gallon for regular. News reports from Florida put the price at nearly $6.

    World events are a big factor for rising gas prices in the United States. The growing economies in China and India are fueling increases in demand for oil. Instability in the Middle East from Iran is also driving prices higher. And, in just a few months, when government regulations require major metropolitan cities to use cleaner burning reformulated gasoline blends during the warmer spring and summer months, motorists could be face even higher prices.

    The rising cost of fuel has alarmed the White House, which held an event Thursday at the University of Miami. President Obama outlined new plans to increase domestic energy production.

    Heritage’s Nick Loris responded with five half-truths about gas prices and five steps Congress and Obama can take to effectively combat them. Loris said high prices threaten to stall the country’s economic resurgence.

    “Higher gas prices drive up production costs for goods reliant on transportation, and more money spent at the pump means less money spent at restaurants and movie theaters,” Loris said. “Buying fewer goods and services tightens the economic vice and holds back job creation.”

    Posted in Featured, Scribe [slideshow_deploy]

    7 Responses to Chart of the Week: Winter Gas Prices Reach All-Time High

    1. Laurie Davis says:

      I remember long gas lines around DC in the early 70's. People would take their cars out for gas during the night in order to get in line and gas up to get to work on time. If you had two cars, your wife would gas up one car and exchange it for the other when gas got low. Great way to live and spend your time ….. This was by the way in an area that had amtrak, the buses and lots of commuter use to downtown DC via the subway. However, you had to get the subway station to get on the train,, and that took gas for your car.

      Denying that we need carbon based gas and oil to run this country is idiotic and destructive to our country and economy. If we don't have a leader that understands that, we're doomed.

    2. Blair Franconia, NH says:

      Since the late '80s, early '90s, we've had 30 different blends of gas. Here's a thought___instead of having 30
      different blends, why not have 1, (ONE), BLEND OF GAS? Sound good? Yes, it sounds good.

    3. Alexander says:

      I paid $4.50 a gallon here in Southern California.

    4. Jeff, Illinois says:

      And get this . . it has nothing to do with the present administration . . !! Gas and oil are sold on the world market, which set the price. Our number 1 export in america is gas . . check it out. In that way the oil industry can keep domestic supply low and raise the prices . . . expecially when they are worried that the present administration might take away their Oil Industry Welfare Subsidy of 3.9 Billion they get every year. It's the oil industry that's playing a game!

    5. Greg Kelly says:

      Nothing a little pond scum & tire pressure can't fix!

    6. Mike says:

      The only pond scum I'm aware of is in Washington DC and I don't think that pond scum is going anywhere. It's there year after year after year……….It does put out a lot of gas though………

    7. Bobbie says:

      He's got ties with all these guys. the only thing higher gas prices are doing is pleasing the President and that Chu guy while upsetting people by costing an extreme increase expense to life's essentials. all because the government wants to force us into something not enough people are freely interested in. There is absolutely no reason for this.

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