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AAA: Politics Isn’t a Solution to High Gas Prices

Gas prices drop 8 cents since last week.

After Labor Day, AAA predicted that gas prices across the country would drop leading up to Election Day, and will move even lower approaching the end of the year. And that’s exactly what’s happening.

For the second week, gas prices dipped, this week, by an average of 13 cents a gallon, according to AAA’s Fuel Gauge Report.

In Montgomery and Bucks counties, the average price of a gallon is $3.807 per gallon, which is 8.1 cents lower than a week ago, 11.8 cents lower than a month ago and 29.3 cents higher than a year ago.

High gas prices continue to not just be a front-of-mind issue for motorists, but also a frequent topic in Washington. AAA has consistently noted, because it is a publically traded global commodity, there is no sliver-bullet solution to high gas prices, and there is very little that politicians can do in the short-term to meaningfully impact prices.  

This fact has been evident, the report states, because in 2012 motorists have experienced volatile pump prices due to increasing global demand, geopolitical tensions overseas, international economic news and, most recently, domestic supply and distribution issues.

Locally, the cheapest price for regular is $3.58 at the Wawa at 1510 Easton Road in Horsham.

If you spotted a better price, tell us in comments.

 

10/23/12

WEEK AGO

YEAR AGO

National

$3.648

$3.773

$3.456

Pennsylvania

$3.774

$3.867

$3.500

Bucks/Montgomery Area

$3.807

$3.888

$3.514

Lehigh Valley

$3.707

$3.818

$3.464

 

James Kephart Jr. October 25, 2012 at 10:30 PM
So wrong! Liberals love stating that politicians cannot control the price of oil! While that may be a literal truth, their policies can and do have huge impacts over very short periods of time. To suggest otherwise, is just not true (no offense to the author here). Liberals can only defend the flushing of my hard earned tax dollars down the toilet of their buddies in the green jobs market (like Solyndra, A123, LG Chem, Beacon Power, etc etc etc.) if oil prices are over $70 per gallon. Consider that from mid 2008 to mid 2009, the price of Natural Gas dropped from over $12 per thousand cu ft to under $4. Do the math! And that was with an increase in natural gas production in the US of about 10-15%. Drill drill drill. That is, and always will be the answer to keeping oil prices under control. Commodities traders make money whether the oil price is up or down - they really don't care if they are trading it in the $30 range or in the $100 range. After Romney gets elected, we will be back on the path to see sub $50 per barrel oil again. And only then, will our economy fully rebound. Else - Reap what you sow!

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