The last time you filled your tank, it was obvious the prices we are currently paying resemble those before Hurricane Katrina.
While it’s great to drive away from a gas station with a full tank for $5, $10, or even $20 less than we were paying just a year ago, some analysts are saying this new price structure is going to negatively affect the economy, particularly in oil field related jobs.
But when the fluctuation of prices worldwide, and through the history of gasoline availability, are taken into consideration the price of oil has always been just one part of the economy.
A story published in the Clarion Ledger late in January of this year states that the Chevron refinery in Pascagoula has been able to maintain the same level of employees, so far contradicting the thought that jobs will be lost. But that is just one employer outlined in the article.
One thing is certain, the price of gas will eventually rise. Either the price per barrel will increase during the busy summer months, the Mississippi Department of Transportation will succeed in securing a proposed increase in fuel excise tax, or something will occur within OPEC to cause global prices to jump.
On a related topic, one county resident posed a valid point. Now that the price of gas has gone down, when will we see the price of goods transported by trucks also drop? Back when the price of gas shot up to almost $5 a gallon, the price of everyday commodities such as bread, milk and just about every other product shot up with it.
If the oil industry has its way, gasoline prices may not stay at their current levels long enough for anyone to complain enough to bring about that change.
It’s kind of like when property, income and sales taxes are increased. Once rates go up, they seldom go back down.