Unusually for a spring season, gasoline prices
have been steadily climbing in the US since the beginning of 2011, and have surpassed $4/gallon in many US states, largely due to
political instability in many oil-producing African and Middle-Eastern nations.
"Not so fast," says the Department of Energy. Although the price of crude oil has climbed steadily throughout the year, the price of gasoline has climbed much faster -- a disparity known as the
crack spread, which
has remained at its highest level in 32 months, even in light of a sharp decline in the price of crude oil at the beginning of the month. The DoE speculates that although crude oil is cheap and plentiful enough, the
2011 Misssissippi River Floods are currently more to blame for $4 gas than the uprisings in the Middle East.
posted by schmod
on May 19, 2011 -
125 comments
In the U.S., motorists do not pay their way. The US government spends more on highways and other auto-related expenses than it receives from auto-related taxes, unlike almost every country in Europe. In a recent
report [pdf], Mark Delucchi calculates automobile-related costs and revenues in three different ways and concludes the subsidy is around 20-70 cents per gallon or $24-105 billion in 2002. But what are automobile-related costs, you ask?
[more inside]
posted by salvia
on Oct 2, 2007 -
99 comments
Why $2 Gas Is Amazing Gasoline is now selling at more than $2 a gallon, which, after inflation, is higher than it's been since 1981. But that's not the amazing part. Actually, there are three amazing parts.
posted by Postroad
on May 22, 2004 -
99 comments
