It is amazing how perspectives change. When I was a young man, the idea of paying a dollar a gallon for gasoline outraged me. Back then, I'm sure I called the oil companies every name in the book each time I filled up my gas tank.
Fast forward a couple of decades and obviously, gas prices have gotten a lot more outrageous. We have all paid three dollars for a gallon, and unless a person is an executive for Exxon, paying that amount was pretty hard to swallow. However, I don't really blame the oil companies anymore. After all, we as consumers have proven we will spend three dollars a gallon for gas, so why shouldn't they charge us that much for it? It's basic supply and demand.
Here where I live, prices recently dropped down to $2.50 a gallon. How did I react? I was happy, which I guess we all should be. But, in a way, that reaction was troubling. Happy to pay $2.50 a gallon? Apparently, it doesn't take much to make me happy these days.
Unfortunately, this drop is only temporary. I'm sure prices will start shooting up again soon. It's too bad Americans can't show more discipline and cut back on the amount they drive. Unless demand drops, prices won't truly get lower anytime soon.
Then again, Hurricane Dean may be the culprit in driving prices back up in the coming days.
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An article in today's Investor's Business Daily said U.S. refiners are currently operating at almost 95 percent of capacity. That's had a lot to do with the price dropping.
We should pray that a hurricane doesn't come along to mess thangs up!
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