I've been waiting for years to buy a brand new cadillac
But now that I've got one I want to send it right back
I can't afford the gas to fill my luxury limousine
Ray Davies, lead singer for the Kinks, “Gallon of Gas”
Retail gas prices hit another record high over the past three weeks, mirroring a rapid increase in the cost of crude oil, according to Lundberg survey.
Consumers are turning their pockets inside out or adding more debt to their already over burden credit cards as the average price of all three grades rose nearly 20 cents. Do you realized that if all the stars aligned perfectly it would take months for gas to come down by 20 cents a gallon. But today, if the crew chief on an oil derrick has the flu, we can expect to suffer right along with the ill chief from our wallet’s point of view.
The biggest cop out that reporters and analysts use is that $2.53 is not adjusted for inflation. Well, I have news for reporters and the like, my paycheck is barely adjusted for the here and now.
I suspect however, that the oil executives’ bonuses are adjusted for inflation as they hold their umbrellas upside down to collect the windfall of cash.
(the gas prices pictured would be a relief as So. Calif pays pennies short of $3.00 a gallon)