Why is the Price of Gasoline so High?
Today in a Small town of NC the price of Gasoline wen to $5.00 a gallon in a matter of minutes.
Smaller stations where closing down from the lack of Gas.
Emiit Patel a small station owner said ” People are fighting each other to get in line. It is the craziest thing I have ever seen” Emiit had reduced the number of gallons per customer to 10 to give everyone a chance to get fuel.
He eventualy had had to close because he ran out out of Gasoline.
Larger stations have been deluged with cars and trucks trying to fill up before the price gets to high.
Price of Gasoline here has risen $1.37 since 6 am this morning.
So why the spike in Price?
Rumurs that a refinery has been closed in the Hurricane path of IKE has driven consumers to buy Gasoline like there will be none tomorrow.
What will this do to the price of consumer goods? Will the rising cost of fuel cause hyper inflation?
Will the Fed keep on printing money to combat hyper inflation? This seems counter intuitive but then again I am no economist.
Seems to me if you have a weak dollar you would want to raise intrest rates to strengthen the dollar.
Maybe they don’t want to because of the housing defaults?
Maybe T. Boone Pickens has the right answer. Read about it at http://www.pickensplan.com
Either way it looks to be an interesting Election topic and a bumpy ride.
You can also read about it on these sites:
Gas prices - voters’ No. 1 concern
Gas Prices, IPhone Influence Enterprise Mobile Decisions
http://www.cio.com/article/448996/Gas_Prices_IPhone_Influence_Enterprise_Mobile_Decisions
