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We are in the midst of one of the most perplexing gas price spikes in the history of such things. Fueled (so to speak) by the continuing unrest across the Middle East, the price of gas has soared steadily in recent months. As of this writing, the Replica Handbags price of a gallon of regular unleaded fuel in Yankton was approximately $3.859, far eclipsing (when not adjusted for inflation) anything consumers here have ever seen at the pump. That’s up more than $1 a gallon over this time last year, according to AAA.
Thus, oil companies, who some defenders (and there are a few) say are being unfairly targeted, are nevertheless making record profits again. What’s more, they are being subsidized by our government to the tune of $4 billion annually as an incentive to explore for more oil — as if the billions they are making now aren’t an enticing inducement.

While the unrest in the Middle East plays a role, many analysts point to the role of speculators in driving prices toward the heavens. Speculators are investment managers and similar entities that are making long-term bets that oil prices will continue to rise in connection with the Middle East problems. They buy oil futures at inflated prices with the expectation of higher prices in mind. Call it a chicken or an egg, but that helps fuel a spike in prices.

And of course, motorists are the ones paying for it.