Gasoline Skyrocketing Gasoline prices have been on a tear recently with some of the largest weekly increases on record. In some parts of the country, prices at the pump have exceeded $3.00 per gallon for regular, although the average lingers near $2.80. Prices will go higher, muchhigher. These price increases, occurring fully two months before the summer season, have created alarm. The familiar cries in the press are back and predictably, politicians are looking for the usual suspects. Obviously, crude oil prices can in part explain the recent gasoline price increases, which almost mirror last year’s. Crude oil, which a...
