June 28, 2005



From FoxNews: Gov't: Gas Price Nears Record High.

U.S. motorists should prepare to pay more at the pump over the Fourth of July holiday, after a government survey on Monday showed gasoline prices rose for the fourth straight week, nearing an all-time high set in April.

UPDATE I -- June 29: Tempus Fugit notes that inflation is not being figured into the government's "record high" assertion: Oil Prices Peak? Well, No..

UPDATE II: Mike Williams e-mails an additional observation:

Inflation is not the only factor the Energy Information Administration ignores in its recent report on gas prices. As reported by the American Petroleum Institute, prices at the pump also include 18.4 cents per gallon in federal taxes and a national average of 23.6 cents per gallon in state taxes! If the federal or state governments were truly concerned about rising gas costs they would act to abolish gas taxes and burdensome energy industry regulations!

UPDATE III: This cartoon appeared in the July 5th The Detroit News.

Posted by Forkum at June 28, 2005 09:07 PM