Oil hit $97 per barrel today. That is close to a two year high. The MSM had been crowing about all the money going back into the pockets of consumers from the drop in prices since February. The “plunge” in prices from $3.74 per gallon to $3.49 per gallon over two months has been virtually wiped out in a matter of three weeks. The price has risen by 19 cents in three weeks and will be headed higher if oil remains at $97 per barrel or higher.
For some perspective you won’t get from the MSM propaganda machine, let’s look at a four year chart. Here is the average price of a gallon of gas you’ve paid on May 20 over the last four years:
2013 – $3.68
2012 – $3.69
2011 – $3.86
2010 – $2.82
2009 – $2.37
You are paying 18 cents less than the all-time highest price for a gallon of gasoline on this date in May. Does that sound like a windfall for your pocketbook? You are paying 64% more for a gallon of gas than you were in 2009. You are paying 30% more than you did in 2010. Aren’t you glad Bernanke has inflation well contained? If we are on the verge of energy independence, why is the price exactly where it was one year ago. I thought the Bakken oil was flowing like honey. Doesn’t massive new supply result in lower prices?
It’s amazing what perspective and facts reveal.