Here is the news reported by consumeraffairs.com.
"The psychological price-point of $4 a gallon is looming straight ahead, and will likely be hit before the end of the week, based on the rate of recent price escalation. The national average price of self-serve regular today is $3.967 a gallon, according to AAA's Fuel Gauge Survey. That's nearly a dime a gallon more than seven days ago."
The rising price continues to sap the strength of the economy. it continues to drive down consumer demand for other items. If it keeps going, it will raise the level of unemployment. In short, it is a disaster.
The truly sad thing is that the government is doing nothing either in the short or long term that is designed to bring down the price of gasoline. So far, Obama's reaction has been to propose raising taxes on oil companies. No one in his right mind would think that such a move would lower gasoline prices. Apparently, Obama and his cronies think that the American people will be satisfied by sticking it to the oil industry even though there will be no effect on the price of gasoline. For the longer term, Obama does suggest that the US concentrate on solar and wind energy for the generation of electricity. Of course, even if those fuels are used (and that is not likely), that shift will have no effect on the price of gasoline since oil is hardly used at all in the generation of electric power in the USA. A move like reopening the offshare areas of the USA to drilling would affect oil prices in the longer term, but Obama is not prepared to take such action.
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