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 -
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 -
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 -