Go Back   SZONE.US Forums > Current Events > News > The Heritage Foundation

The Heritage Foundation Since its founding in 1973, The Heritage Foundation has served as a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense

The Heritage Foundation

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

Views:257
Reply
Thread Tools Search this Thread Rate Thread
  #1  
Unread 02.26.12, 07:59 AM
@Heritage @Heritage is offline
RSS Bot
 
Join Date: 06.09
Posts: 37,392
Chart of the Week: Winter Gas Prices Reach All-Time High

On 02.26.12 07:28 AM posted by Rob Bluey




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.”



http://blog.heritage.org/2012/02/26/...all-time-high/
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Rate This Thread
Rate This Thread:



All times are GMT -8. The time now is 06:14 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright ©2007 - 20017 SZONE.US All rights reserved