What the Heck Is Going On With Gas Prices Again?

Nothing goes straight up or down. Today we hit a low of 3.499 a gallon.

On July 2nd I paid 2.99 a gallon for gas and then yesterday at the same station it had gone back up to 3.19.

It all comes down to greed.

Oil Speculators are the ones to blame.

Make oil prices react to good ole Supply and Demand and this issue sorts itself out real quick. Let Wall Street get involved and we remain screwed.

I've been talking about this for years.

Go to https://www.stopoilspeculationnow.com/home.aspx if you want to do something about it.

Nobody was talking about speculators when the price of oil dropped from $109 to under $80. All commodities are subject to speculation.

Wall Street is part of the supply and demand market.

The price of oil has dropped as it became apparent the economy was slowing down, rather than expanding. The price was also going up due to concerns over Iran.

A couple of years ago,"60 Minutes", did a segment on oil speculators. One of the oil analysts explained that there was a period, after a run up of oil prices when supply was going up and demand was going down but prices were still rising. The reason was price manipulation by speculators. The same segment pointred out that a bunch of Enron energy traders had landed in the oil commodities pit after the collapse of Enron.