In June 2009, I was watching an interview on MSNBC or CNBC. The interviewee was a man who was introduced as the CEO of BP.
During the interview he intimated that the company would have gasoline prices of up to $5 per gallon in the U.S. The only reason presented was that it was at that level in Europe, and there was no reason that it should not be the same here.
I didn't think much more about it because the prices did not soar up suddenly after that, but eased a bit upward. Then in 2010, there was an oil spill in of all places the Gulf of Mexico, contaminating the shores of the U.S. Since that time gasoline prices have been going up steadily, and are now more than $3 as a national average.
Gasoline prices are on a steady rise toward the $5 level. Is the oil spill investigation over, or are there questions being asked about this enormous disaster? There has been no information regarding what has been one of the worst disasters in our history and one which could have been prevented with prompt and efficient action.
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Recently, I have seen on some of the news channels that other gasoline companies are now on the bandwagon with $5 per gallon gasoline. Those other countries apply more taxes to their gasoline than we do. Since the cost of crude oil is pretty much the same the world over, that may explain the difference in our costs.