George, the Associated Press also reports today that gas prices are rising not because of increased demand, but because of the falling value of the dollar:
All one needs to do is look at the price of crude, which crossed $75 for the first time Wednesday, then neared $80 on Monday.
Oil
is bought and sold in dollars. As the value of the dollar falls, the
price in dollars of oil rises. The dollar has continued to fall
throughout the month.And the rising price of crude is exacerbating problems that already existed for the refiners that make and sell gasoline. People
are driving less, trucking companies are shipping less, and airlines
are cutting back on jet fuel purchases because businesses travel has
ebbed.That lack of demand has forced refiners to cut back production to levels more common in the aftermath of a hurricane.
And imagine if we did have a hurricane!
