93 octane is $2.499/gallon at my WAWA. This is a bit confusing when Goldman Sachs was predicting $200+/barrel prices by the end of the year. Instead we're floating around the $50/barrel price range. Airlines that hedged their fuel prices earlier in the year must be pissed.
So why is gas so cheap now? I'm not complaining, but it does make me feel like I was taken for a ride for the better part of the year. But I'm not so naive to believe that we're going to hang around this price point for any length of time. I'm going to assume that prices will shoot up again. Maybe the loss of 2 million barrels of crude from a pirated Saudi tanker will drive prices up again. See Saudi Arabia, terrorists are everyones problem... but good luck with your shipping in the region.
I'm certainly not dumb enough to think that one can buy gas guzzlers again. If anything, this year has shown us how freakishly volatile our transportation costs can be under fossil fuels. This should drive us to alternative sources, unless we're willing to accept this kind of volatility in our lives. Hurry up Tesla and make electric cars for the rest of us! I'd rather give them $25billion, then throw it into the money pit known as Ford/GM/Chrysler.
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