Mother Lode Not Optimistic About Gas Prices

The Mother Lode is not optimistic about gas prices. According to a recent informal myMotherLode poll, which matched one done in June 2010, fewer people believe gas will be $5 per gallon. 24% more believe gas will be over $6 per gallon than they did two years ago. In the recent poll 48% answered that in five years it will cost $6 or more for a gallon of gas.  

Our recent news article reported “Gas Prices Heading Back Up“

According to the U.S. Energy Information Administration crude oil is by far the largest factor in the price of a gallon of gasoline – accounting for 64% percent of the $3.746 average retail price per gallon. Other components that make up the price of gas are: refining costs, marketing and distribution costs, and taxes.

Americans pay much less than the drivers in many other countries. Government subsidies keep gas prices low in the OPEC nations. In many European nations taxes can make gas double what the price is here.

To view and report local gas prices visit the gas prices page in the Traffic section.

A EIA Interactive data chart for national gas prices going back to 1977 can be viewed at http://www.eia.gov/forecasts/steo/realprices/.