How much!? Gas prices shoot past Katrina-level records to new high
Not but two weeks ago, national gas price averages got to the $3 a gallon level, and the question was whether the summer gas peak had happened early or if we were looking at a record-high season for gas prices. Guess which one we can now confirm? If we take a look at the Energy Information Administration's gas price averages going back to 1983, it's clear that this week we're seeing the highest prices on record. Ever. Their average is $3.143 a gallon. The last time prices were close to that level was $3.117 back in September 2005 (right after Hurricane Katrina). The EIA creates their average using all grades of fuel. AAA's current average for regular-grade fuel is $3.103. So, how are we driving smarter now?
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[Source: Energy Information Administration via Autoblog]
Reader Comments (Page 1 of 1)
A.Brien 11:52PM (5/16/2007)
By saying to toyota to clean their act, and invent
for the first time something. A car that ran on water.
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Joel 10:31AM (5/17/2007)
For comparison right now, a gallon of gas in london costs about $4.20. And, as they have extra taxes added to the cost of their gas, we may be about equal to the cost of gas in at least Britan, if not Europe in general.
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motorman 11:01AM (5/17/2007)
i was told the democrats in congress would put a stop to these price increases when they took over.
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OilKills 11:29AM (5/18/2007)
Here's hoping the price of gas keeps going up and that people in the US will continue to seek alternative forms of energy. Oil kills and is the scourge of mankind - let's kick our addiction to this terrible fuel.
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CaptainOFace 1:18PM (5/18/2007)
Ok, "Oilkills" does have a point. However, I do not totally believe OIL itself is evil, just the people we purchase it from. If Oil were to return to $1 - $1.50 per gallon I am pretty sure the Prius would once again become the ugly hatchback it once was and not the "savior of mankind" it is today. So yes, if oil continues to rise (i am not rooting for this but I am sure it will) Americans will continue to seek alternatives. I am all for new forms of energy and I think we are on our way there. Brazil did it and they are basically a third world nation. America went to the moon and developed to atomic energy, I think we can figure this one out. How about a Manhattan Project to assist the -US- auto industry develop some batteries. Keep the technology proprietary and sell the batteries to the world and maybe we could even lower taxes with battery revenue. Ah to dream! I know that is not realistic but it would be nice --- freedom from foreign oil, the American Auto industry at a competative advantage, and lower taxes. Sounds like the 50's
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CaptainOFace 1:42PM (5/18/2007)
American Gas prices per gallon will always be less than the UK and the EU b/c our taxes are lower. Oil is bought on the world market, so those nations pay what we pay per gallon. The taxes are what make it more expensive. Lets hope and pray we dont get any additional fuel taxes! Why do you think congress has done nothing to curb fuel prices? ---Its because they make money as fast from OIL prices as the OIL companies. If crude goes up so do the taxes -proportionatly. Fuel is taxed as a % not a fixed amount per gallon. Fix the tax per gallon and the price wont rise as high. We should be just as angry with the taxes as we are with the oil companies. At least the Oil companies contribute something to bringing fuel to market. They make good margins 10-15% but the gov makes 100% margin for doing nothing.
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Karkus 2:59PM (5/18/2007)
Yeah for high gas prices! It will help get us off our oil addiction, and the increased taxes will help fix roads. It's unfortunate for low income people (I think there should be a tax credit for those people), but overall I'm happy. A little pain now will lessen the pain in the future.
You can blame the gas companies all you want, do silly one-day boycots, etc, but the bottom line is that we have only ourselves to blame. If we reduce our consumption, gas prices will go down.
By the way, there are taxes that are percent based and some that are flat (depending on the state).
And while Prius sales are certainly helped by high gas prices, I should point out that when the 2004 model came out in fall 2003, gas was around $1.50. Yet there were waiting lists of several months even then. Only recently did they crank up production enough (~200,000 for 2007 for the US) to supply demand.
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