August 12, 2006

Why is gas so cheap?

For some weeks now gas prices here in northern greater-Boston and southern NH have been hovering around $2.99 up to $3.05. Over the past couple of days they even seem to have dropped a penny or so. I don't understand it.

A year ago, the damage, by Hurricane Katrina, to the oil and gasoline supply caused gas prices to jump 30-40 cents in the few days right after the disaster. And it kept going up even after that. This year, we have news stories about the Alaska pipeline going off-line for months, and there's no reaction in price.

What's up with that?

Posted by jackhodgson at August 12, 2006 06:59 PM