Economic Reasoning for Increase in Gas Prices? There Isn't One!

When something happens that should not happen, why does it happen? That's what Florida Triple-A spokesman Greg Laskoski says everyone is trying to figure out about gas and oil prices. He says there is no tightening of supply and no outrageous demand. He says prices are going up, when logic indicates they should be going down. He says there is no basic economic reason oil should be above 130 dollars a barrel Laskoski says what they are seeing are hedge funds that are raking in the dollars with every scare story and there are commodities traders pushing the prices ever higher. He says it's not a question of whether the price of oil is inflated...but by HOW much. There are some things taking place that could help consumers. Demand is expected to fall because of the prices, and some refineries are getting back on line so there will be more production. But he says now it appears more parts of Florida than first thought will be seeing four dollar a gallon gas prices.

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