Gasoline prices to decrease, just not at rate they rose
September 16, 2012 at 7:00 pm in West Central Tribune
WILLMAR Gas prices nearly rose to the dreaded $4 mark last week, and were still $3.949 a gallon Sunday at most stations in the Willmar area.
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Gas at $1.59 when Bush left office? You must have your Shrubs mixed up.
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You have short memories, according to Gas Buddy the average price of a gallon of gas was well over $4.00 per gallon in the final months of the W administration, and dropped below $2.00 per gallon in January of 2009. It does not matter how much crude oil comes out of the ground in North Dakota or anywhere once it come out it then is sold on the world market. It is the property of who extrated the oil and with any other commodity it is sold for the highest price. The President has very little to do with the price of gasoline at the pump. Do you really believe President Obama would have $4.00 gas if he really had any control over the price, I don’t think so. No one in their right mind would have so much of the GDP going to just one sector of the economy!
http://gasbuddy.com/gb_retail_price_chart.aspx
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Commodities prices raise when the value of the dollar decreases. That’s macroeconomics.
Bernanke just announced another round of stimulus, which means the United States will continue printing money and buying debt. Since the U.S. is already broke, that printing of money further increases debt and deflates the dollar…therefore raising the prices of world commodities, including oil, grain, precious metals, etc. That is a cyclical and proven economic fact here in America.
It cannot be blamed on the president, however, Bernanke DID pull the trigger on the QE3 stimulus and most economists agree that was not a good idea.
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