If you have been reading my recent posts you know that this administration wants higher gas prices. As crazy and backwards as that sounds, it is exactly correct. Here is another article speaking to the rise in oil which translates to higher gas prices at the pump for us.
Gas Prices See Highest March Price Ever and 7th Consecutive Weekly Increase
The weekly national average gas price showed the highest price ever during the month of March and the seventh consecutive increase this week, according to the Department of Energy. Prices are at their highest level since 2008, in part because of the Japan earthquake and turmoil in the oil-producing Middle East. But analysts say the price of oil and gas would still hover at a surprisingly high level despite geopolitical concerns.The national average gas price is $3.60 today, according to the Department of Energy, up 3 cents from a week ago and 80 cents from one year ago. Last week's national average was an updated $3.56 per gallon for regular gas, the 13th consecutive week that the average was above $3 a gallon, according to the DOE. The last time gas rose higher than $3.50 was Sept. 29, 2008, when the weekly average hit $3.64.
Oil futures settled today at $103.98 after reaching a high of $105.76 earlier in trading. On Friday, oil futures settled at $105.40 a barrel, the third consecutive day above $105, according to the Chicago Mercantile Exchange Group.
Robert Powell, a Middle East analyst with the Economist Intelligence Unit, estimates that even without the current conflicts in countries including Syria, Yemen, Bahrain and Libya, oil would still hover around $90 a barrel. Why? The simple rules of supply and demand, he said.
If Obama would allow more oil exploration in the US and off our shores we could quickly become our largest supplier instead of sending our wealth to the Countries that hate us the most! That sounds like the All Right Idea!!