Posted on 06/19/2014 9:00:52 AM PDT by xzins
You don't have to be an expert to notice that costs for many essentials are at all-time high. From gas to food, Americans can expect to pay even more in coming months.
The current national average for a gallon of gasoline is $3.67 -- that's higher than it's been since 2008.
The higher prices are being blamed, in part, on the instability in Iraq.
According to AAA, both gas prices and global oil prices have steadily risen since ISIS (Islamic State of Iraq and Syria) took control of Mosul last week. The brutal jihadist army is actually flying its flag over Iraq's largest oil refinery.
High demand and the cost of drilling also play a role in the high price consumers are seeing at the pump.
"It's a lot more expensive to drill for oil today so we need higher prices," oil and gas broker Tom McCarty said.
"Again, if you look at the history going back for the last four years anyway, you know oil prices have been pretty stable," he noted. "Now they tend to swing to the 105 range back down to the 93 range."
"And one of these days it's going to break out above that and I'm afraid we may be close to that happening just simply because of more demand," he warned.
The cost of food is also sky-rocketing.
The price index for meats, poultry, fish and eggs hit an all-time high in May, according to the Bureau of Labor Statistics.
Meat costs are rising the fastest. A seven-year decline in herds has left the fewest cattle in at least six decades.
Analysts warn the high prices for both food and gas are here to stay for a while.
To make matters worse, Senate lawmakers actually proposed legislation this week to raise the federal gas and diesel taxes by 12 cents per-gallon over the next two years.
The proposal was pitched as a way to pay for highway and transit programs.
BUMPS! Thanks to all posters.
Given the economic struggle of a lot of trucking companies a 12¢/ga. would probably kill everything except the big companies.
I drive a delivery truck. Yesterday morning I drove by a Kangaroo gas station. The advertised price was $3.44/gal. By noon it was $3.59, a whole 15 cent per gallon jump. Still better than other area stations (at $3.69 or so), but, WOW!, whatta’ jump! Thanks, obammy!
It went from 3.49/g to 3.59/g just yesterday, here in the ‘midwest’.
Why is this a shock?
all part of the plan to make the middle class meld into the poor class...
Romney would NOT have been better.
I think that would be a huge impact on the economy — at that point the powers-that-be cannot really say that we are fine economically.
Yep...it’s sooooooooo historical though!!!!! Sooooooo worth it.
I grow, can, freeze, shop sales, get stuff off craigslist,and go to thrift stores....hubby building a smoker to go along with his meat shop and walk in cooler...we're getting half a beef this weekend and hopefully some elk and deer in the fall....
“Analysts warn the high prices for both food and gas are here to stay for a while.”
Let me guess....Obama term ends in 2016....so at least 2 more years?
totally predictable what would happen but we sure shoved that Mormon's arse to the curb didn't we?.....
Danger ZONE!
I'd use 'em (whole or in chunks) to bait in tastier critters. You know - bears, feral hogs, blue crabs, etc.
Note to self: get the bladed tools and the chainsaw sharpened.
They had a piece here on Fox radio the other day with a breathless announcement that fuel prices were going up because people were using so much LESS fuel. Last summer it was because people were using MORE fuel.
Clear cut case of damned if you do and damned if you don’t. Got ya comin’ and goin’.
Now, awash in cheap natural gas, fracked fuel, etc., prices are going up because Iraq, which hasn’t seen a drop in production yet, is fighting.
You can’t beat the price people.
And Obama’s trying to bankrupt the fossil fuel industry because: (1) he can, (2) he supposedly hates carbon, (3) his solar initiative nose-dived into the deck, and (4) he’s butt buddies with the Saudi guy he bows to.
And Yellen tells us it’s all under control and under 2%. And that way, they don’t have to give increases to social security and to any kind of fed or military retirement because they’re all tied to social security.
It will blow up.
Nah. Feed ‘em to your pigs. They devour EVERYTHING (no traces) and you get bacon as a side effect. . .
Otherwise known as the big rat city, pol brother-in-law, union transit full employment act. Got to have a way "to go downtown to get paid".
I have become a great fan of shoulder blade roast. But bacon will always be king.
Like our closest city’s “rail project” that will eventually be about a billion bucks, traverse about 2 miles of terrain, go from one point no one wants to be without transportation to another point no one wants to be without transportation, and be a money pit for decades to come so workers can make prevailing union wages.
Great idea. The yuppies like it, though.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.