Wednesday, September 20, 2006

A Little Perspective On The Price Of Gasoline In The US

All the blowhards on right wing radio are whining about how Bush gets unfairly blamed for the price of gasoline when it goes up/is high, but is not getting any credit (except, if anything, for possibly making attempts to help the Republicans hold Congress) now, when gasoline prices are falling. Well, let me explain to all the brainless, right wing blowhards why nobody is really getting all excited about gasoline being down to a nationwide average of $2.50/gallon.

While I, like all Americans I would assume, am glad that the price of gasoline has fallen $0.50 in the past few months, a mere 2.5 years ago the nationwide average for a gallon of regular grade gas was a little over $1.70/gallon. That means gasoline is still up $0.80/gallon or 47%(!) in the last two years. That’s an annual increase of 18.8% per year! Excuse me, what else has gone up 18.8% per year for the last 2.5 years?!? Not many other consumer goods that people have to buy on a regular basis, not the stock market, and certainly not your wages, that’s for sure! That’s why Americans aren’t rushing to sing the praises of Ol’ G. W. for our “cheap gas”.

Furthermore, this is exactly the kind of psychology regarding gasoline pricing that the oil companies want to foster - after gasoline prices were up to over $3.00/gallon, naturally people will be relieved when gas goes down to 2.50/gallon and will think, “Gee, gas is cheap now.”, and be grateful to be paying 47% more than they were a mere 2.5 years ago. Yeah, well, fuck that. It only takes a little statistical analysis to cut through the bullshit and, sorry, but I don’t feel “lucky” to be paying “only” 47% more for gasoline than I was 2.5 years ago.

No comments: