Big News Today

[...] 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. [...]

Pingback by Big News Today » Gas Prices Hit New Record High — August 14, 2006 @ 3:42 pm

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