Gas prices not set to drop this holiday season
HEATHROW, FL – Autumn’s here. Temperatures are falling. So are the leaves. Unfortunately, gas prices aren’t. Used-to-be you could count on the election season every few years to magically bring down prices at the pump. At least for a while. Not anymore. AAA says prices this year have nowhere to go but up.
September was a record breaker. The average price for a gallon of gas was $3.83, only 23 cents below the highest price ever recorded. And with unrest in the Middle East, and more refinery troubles, there’s little hope for relief.
Last year set the record for the highest average fuel price at a whopping $3.51 nationwide – so far this year the average is $3.64
The good news is that those of us lucky enough to call the lone star state home typically pay lower than average gas prices.
And if you’re thinking the election is going to turn things around, think again. One of the biggest misconceptions about the presidency is that the man at the resolute desk has control over fuel prices. The truth is, other than settling mid-east conflicts quickly or working to open new sites for domestic drilling, the President has little influence. Like everything else, gas prices are set by the market. Meaning any good news this holiday season will likely be reserved for those commodities traders who bought futures against the common trend.
The rest of us will just have to suck it up.