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Gas Prices Hit New Record High

gas-prices.jpg Gas prices have hit a new record high according to a survey published Sunday, 1 cent higher than in the wake of least year’s Hurricane Katrina. The new high is $3.03 for a gallon of self-serve regular gasoline. People all over the country are figuring out ways to save money on gas or cut down on their driving. After BP’s gas pipe fiasco, it looked like the price of gas would skyrocket but recent terror threats have let speculators to believe that demand for air travel will go down as a result, leading to lower gas prices than expected. So the situation is bad, but not as bad as it could be.
Many politicians are using this opportunity to shore up support for their campaigns by using the issue of high gas prices as a platform. The $14 billion dollar subsidies that the government pays out to gas companies are seen as a bit of a shocker when just recently these same companies have posted the highest profits ever recorded in the entire history of mankind.

Related: Highest Prices, Democrats, Free $25 Gas Card

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[…] The Ford Motor Company announced that it would cut one fifth of its production in the fourth quarter of 2006, making it the worst rollback since the 1980’s crisis. The cuts in production, accompanied by cutting thousands of jobs, is blamed on the rising price of gas. […]

Pingback by Big News Today » Ford Cutting Jobs, Production Due to High Gas Prices — August 19, 2006 @ 4:16 pm

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