Presidential candidates Obama and Romney square off tonight in the first debate of the campaign season. However, this debate will center around the economy. One issue that is certain to come up is the cost of driving.
After a brief respite from gas prices inches close to $4 a gallon, it seems as though the cost of driving our cars and trucks will continue to soar to new heights. Why? Well, it seems that oil refineries are experiencing lower than normal inventories. Net result: What oil is refined is selling for near or at record levels.
“Gas prices stay high,” a USA Today report stated, with the “2012 average for regular gasoline (price per gallon) is on track to be the highest on record.” In 2011 the average was $3.51 per gallon.” As of Oct. 1, 2012 the national average price is at $3.64. That is a record high.
While that’s down from $3.83 in August. September gas prices averaged $3.64 a gallon.
Gas Buddy shows regular gas prices are at $3.84 per gallon in the Brainerd lakes area, having dropped recently from $3.89 a gallon.
What should the price be? “Based on cost of domestic crude and seasonal driving patterns, gasoline should be averaging about $3.50,” said Patrick DeHaan, senior energy analyst for gasbuddy.com.
While gas prices have been following the price of light crude oil, which has been tracking downward from its 52-week high of $108.70 to a low of $77.25. In recent weeks the price has been leveling off at $92.50 a barrel, according to CNNMoney.
This could become a significant political football in the presidential and congressional races as the debate escalates over the marked decline in wages earned by average Americans versus the dramatic increase in the cost of gasoline since the 2008 election.
What was the price of a gallon of unleaded gasoline in 2008, just before the last presidential election? Prices for one gallon of regular unleaded gasoline varied in Minnesota in November of 2008 from a low of $1.99 to $2.04. Why was it so significantly lower four years ago?
Congress had allowed the ban on offshore oil exploration and oil shale expire, which in turn sent a signal to the markets that the United States was going to increase its domestic supply.
Since then, we’ve had the BP Oil spill that curtailed oil drilling in deep water areas of the Gulf of Mexico and the Keytstone XL Pipeline nixed. That pipeline was to have started in Hardisty, Alberta, Canada and run to Steele City, Neb., and eventually on to Texas refineries. That project was cancelled when the administration nixed the idea.
Bottom line? Higher prices at the pump will continue until the United States allows more oil exploration in the lower 48 states and Alaska’s vast oil-rich regions.
Keith Hansen
Comments (43)
Add commentBy keeping the price of
By keeping the price of gasoline high the Kochs and other refinery owners inflict pain at the pump for working Americans and give their boy Mitt an advantage. It also helps them re-coop the many millions they are spending to corrupt our elections and gain control of the nation.
It's win win for them and lose lose for us.
tweet on Dispatch front page on line
Unleaded regular in st. Cloud on highway 10 at $ 3.62.9 at SABP.
futhermore, it has been proven that President's do not control the price of gas.
Watch the prices here drop when Costco opens Oct. 24th.
Fish
Have you ever had any connection with reality? Your lefter meddler sheep herders have for years made it clear that the peasants ( that would include you fishy) should not be driving and the easy way to accomplish that is to push up the cost of fuel. Wake up tomorrow and try to spend a bit of time being objective. Being a lefter is a voluntary malady that you have the power to correct.
$5.00 a gallon
The great Obama (teflon) said 2007 I quote '' I have no problem with $5.00 a gallon for gas" He might keep that promise !!!!
snow is drooling
for some Halal meat from Costco!
The great Obama also gave a racist speech
to a bunch of racist preachers here: http://dailycaller.com/2012/10/02/obama-speech-jeremiah-wright-new-orleans.
Don't you love the ghetto accent, Fair?
If you didn't know better, you'd think it was authentic.
Uhhhh, muehl,
me thinks it was.
It's good all you psycho right wing-nuts have a place to rant,
you obviously can't afford therapy.
Seeing that the wacko woke up,
Muehl, remember Clintoon's "I ain't nowheres tarred yet" before the last election? Nice faked accent there too. Che has no accent though, he just wants his pablum tonight now that his medication wore off. Someone'll have to talk to the home about the proper dosage to allow him to sleep all night.
No, Fair...
...I'm quite certain his "white and uptight" accent is his native accent and the ghetto accent is an affectation. After all, Obama was pretty much ensconced among white folks during his formative language learning years. It's not like he was raised on the mean streets of Chicago.
Poor Chey, he gets so crotchety whenever more evidence emerges that his guy is an epic fraud. Or maybe he thinks the reason conservatives are interested in this film is because we're trying to make Obama seem "ghetto" to "scare" white folks. Ha! As if! Obama, himself, used to tell people he felt "white". The reason this video is of interest is because it proves beyond a shadow of a doubt what a fake he is.
Sheldon Adelson...Money Well Spent...NOvember 2012...
Snippet...
Sheldon Adelson, the conservative billionaire Las Vegas casino owner, has pledged to give up to $100 million -- whatever it takes -- to defeat Barack Obama.
http://www.politico.com/blogs/burns-haberman/2012/09/axelrod-hits-adelso...
He's part of a club that includes Oil Industry folks...
http://www.forbes.com/sites/clareoconnor/2012/06/13/sheldon-adelson-tops...
Thank you for nothing Supreme
Thank you for nothing Supreme Court Five.
They must have known they were pushing this country into corporate fascism with their vote on Citizen's United.
Male Michelle
Also known as grampa guy or barney and the rest of you right wingnuts, your racism towards our President is very obvious....racism, way to go low IQers, good quality to have
And DBFubby
Obviously, by your point total, you have never heard the phrase "less is more"...try it sometime..or maybe get a job????..and...SLAP SLAP SLAP SLAP again, you just got b-slapped...enjoy the day even though you just got SLAPPED!!!
LOL on the 5 year old video
the right wing thinks they have 'discovered' a video of Obama that was never aired before, greeting his (then) CHRISTIAN minister....this shows how desperate they are.
They should worry about Romney's 47% remark that tipped voters toward Obama, and Ryan's 30% remark. The people they disdain are not made up of freeloaders. They are our elderly, military personnel and disabled who do not pay taxes.
There's more corporate welfare than welfare for poor people.
Good thing I
didn't call you a B..... dithers, you did it to yourself!
Psssst, snow.
Gotcha again!
"It also helps them re-coop
"It also helps them re-coop the many millions they are spending to corrupt our elections and gain control of the nation.'
Aha! So, it was those guys that screwed this country up so badly. in the last four years. Gosh, what you don't learn in the BDD. Love to all taxpayers and a pox on all others.
scary ... you know your graph
scary ... you know your graph shows that there is still a month over month increase in fuel costs, right? An increase of $0.18 and a decrease of $0.16 is still an increase.
Good Job!
scary
When you spread it your whole life, you should be able to recognize it.
"it has been proven that
"it has been proven that President's do not control the price of gas"
Except when George Bush was in office.
Yeah,
after the economy tanked, prices really plunged.
Be respectful people
There is no need for name calling, from either side. Please try to discuss the issues respectfully.
Presidents have little to do with gas prices
Oil prices are the primary factor in gas prices. Oil is a globally traded commodity in a free market exchange. Presidents have no ability to control that market and therefore can not affect the price. Supply and Demand due to economic activity, Speculation, and fear of a Supply disruption are the primary factors that move the price of Oil.
http://gasbuddy.com/gb_retail_price_chart.aspx
This chart shows the last 8 years of monthly average prices for the US of gas and crude oil. You'll see in the summer of 2008, right before the bottom fell out of the economy that gas prices were actually higher than they are now. Oil prices were much higher for a brief time, I believe that was mainly due to rampant speculation.
In late 2008 the global economy was in the tank and the demand for oil was low, causing prices to crash and giving us cheap gas for a brief period. If you want to give Bush "credit" for crashing the economy you can them give him credit for the low gas prices.
There are other issues that can affect gas prices that are idependant of oil prices. Refinery disruptions are the primary issue.
It's great if we can produce energy resources domestically instead of buying it from the Middle East, but since it's a globally traded commodity it really doesn't help consumers that much. We would need a huge amount of supply to come on line to affect the world price.
You can "blame" Obama for high gas prices in that he helped the economy recover to the level that it has increasing the global demand for oil & gas.
Physics...
Gas drops are nice...
Or maybe we should worry about Romney's garbageman...
LOL! Talk about desparate!
It's all garbage
The Romney garbage man commercial is really weird.
In addition to that, during Romney's time at Governor, he spent time doing many of the state jobs. The garbage man
was one of the jobs he did I think for a day, there is a picture of it.
Now, do we wonder if they are going through his garbage.
gas prices
I just got back from a 3 week tour of western states. Paid as little a s$3.63 and as much as $4.27. Mn. at $3.80+ was one of the higher areas.
Fish I know you like the word Fascism but learn the meaning:
Fascism
"a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism."
We have only one dictator in office right now and it's your man!!