Oil Soars to a New Record High

I predicted that we would pay at the pump and boy do we ever. The average gallon of gasoline is back over $3/gal and rising. I tell you this because it seems so long ago, back in Jan 2007, this year it was $1.87/gallon, yes under $2/gal for gas, but now we are paying over three.

Today I paid $3.19 per gallon to fill up my tank. It was terrible. It was nearly $40 whereas in the beginning of this year I could fill it for about twenty. The declining dollar is causing a surge in oil prices. Also a decline in petroleum production is boosting costs to the max.