This week in the United States, the price of gas continues to climb daily with more increases expected before prices become steady. The current rising gas prices are due to this increased price of crude oil. When the price of crude oil increases the value of the dollar weakens against the value of the euro, making the investment in crude oil more appealing to foreign investors. According to Cameron Hanover, an energy analyst, oil supplies remain abundant and that supplies of crude oil are over bought. Hanover believes that the federal government wants to continue devaluing the dollar, though weakening the dollar goes along with raising oil prices.
At the end of last week, I drove by the gas station in my hometown of Mt. Vernon, and noticed that gas was cheaper than it had been in a while. I thought, maybe gas prices will go down for a while, unknowingly cursing us all. After reading this article, I sat back and thought of the misconceptions of my youth. The year I passed my driving test, the price of gas went up $.05 a gallon from $.889 to $.949 a gallon, there was a rumble of protest amongst the people. The summer after I graduated high school, gas prices rose to the highest I had seen in my young life $1.299 a gallon. In response to the price increase people quit traveling, we refused to be taken advantage of by the oil companies and our government and after months of buy the least amount of gas possible, prices began to drop and hold steady. At the beginning of this current war, with skyrocketing gas prices, we tried protesting the price increase, but too many people would not stay home; their willingness to pay the increased prices made all of our efforts mean nothing.
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