American Gasoline Prices Continue To Skyrocket
- The following story appeared on page A1 of the thursday, 6 March 2003 editon
of the Arizona Republic and is credited to Republic reporter Max Jarman.
The war has not yet begun, no oil wells have burned, and there is obviously
no real shortage of petroleum to fuel this extreme inflation in the price
of petroleum products. The oil production sector of imperialism is sending
consumers a not-so-subtle message: Support this war, or this will become
a permanent state of affairs.
VALLEY GAS PRICES SET RECORD
$1.75 Average Is 65% Higher Than A Year Ago
Consumers in Arizona and the nation are getting clobbered by record gasoline
The average price for unleaded in the Valley hit $1.75 per gallon [46 cents
per litre] Wednesday, the highest price reported by AAA Arizona. That's
24 percent higher than on February 5th and 65 percent more than in March
Flagstaff hit $1.79 [47 cents per litre], and the national average is $1.68
[44 cpl]. In California, San Diego reached $2.05 a gallon [54 cpl] while
San Francisco teetered close to $2.20 [58 cpl].
Soaring fuel costs could be especially painful for those with long drives
"I used to have spending money," Glendale resident Danny Rodriguez said
Wednesday while filling his Chevy Suburban at a Phoenix gas station. "I'm
over $60, and I have 10 more gallons to go. It's crazy."
Some economists worry that rising gas prices will curtail consumer spending,
the one bright spot in the sagging economy.
Alberta Charney, an economist in University of Arizona's economic and business
research program, suggested that since gas prices have been relatively low
in the United States for a prolonged period, that may be making the recent
jumps more painful.
"People made decisions on where they live and what kind of car they drive
based on the assumption gas prices would remain low," Charney said.
When adjusted for inflation, prices have been higher. In 1980, for example,
the inflation adjusted average price was $2.62 a gallon [69 cpl].
And, gas prices in the United States remain low compared with other countries.
Regular was equivalent to $1.98 a gallon [52 cpl] Wednesday in Vancouver,
British Columbia, and $4.71 a gallon [$1.25 per litre] in Great Britain.