Friday, November 21st, 2008

Posts Tagged ‘ Pain At The Pump ’

High Gas Prices Hit 13-Day Record at $3.80

May 20th, 2008 | By Contrarian Profits | Category: Featured, Financial News

High gas prices continue to affect American motorists, staying at record highs for the 13th day in a row, according to the AAA.

CNN reports that US gas prices have now risen for 14 straight days.

According to the report: “For the first time since 2002, Americans plan to drive less on the holiday weekend than they did the year before, with high gasoline prices in a weak economy a prime reason.”



Gas Tax Holiday: Clinton Determined Despite Criticism

May 5th, 2008 | By Contrarian Profits | Category: Featured, Financial News

Hillary Clinton still believes a gas tax holiday is good way of easing American’s pain at the pump despite criticism leveled at the idea. Many believe the initiative comes down to political pandering and that the only beneficiaries of the proposed federal gas tax break would be politicians and oil companies.

According to the The Guardian newspaper: “The gasoline tax holiday has emerged as a policy distinction between the two candidates, and Clinton in recent days has promoted it in an effort to win over working-class voters hard hit by rising fuel prices. Obama dismisses the idea as an unworkable political pandering.”



Pain at the Pump: No End to Gas Price Hikes?

Apr 22nd, 2008 | By Contrarian Profits | Category: Featured, Financial News, Oil Investment & Alternative Energy

Crude oil yesterday shot past $117 a barrel. Sky-high oil prices are now hitting Americans where it hurts: their wallets. The average price US drivers paid for gasoline has soared to a new high of $3.51 a gallon, rising a hefty 11.9 cents over the last week.

The rise in the oil price has little to do with supply and demand, says Phil Flynn of Alaron Trading over at Casey Research,” and has everything to do with the value of the dollar … It really is all about the dollar right now and if the dollar shows any sign of strength, you’ll see a lot of money come out of oil very quickly.”