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Gasoline Prices: Why So High, and What to do?


Once again, high gasoline prices are in the news. As of this writing, the national average gasoline price per gallon price is hovering around $3.79. The price pinch at the pump is sparking consumer and voter discontent. SymphonyIRI reports, “57 percent of consumers are feeling increased financial strain when gas prices increase, and more than four in ten say high gas prices make it difficult to meet monthly expenses,” based on polls conducted in the second quarter of 2011. Further, 49 percent of consumers plan to reduce grocery spending if gas prices climb another 50 cents. An Associated Press-Gfk survey conducted February 16-20, 2012, found that 58 percent of respondents disapproved of how President Obama has handled gas prices. On March 6, 2012, or “Super Tuesday,” seven out of ten primary voters said gas prices were an “important” factor in their decision making.

So what’s behind gas prices?

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