Gasoline prices continue to rise, confound drivers

Hello, everybody, and welcome back to another episode of Cecil’s World in Print. What in the world are we going to do about the high cost of gasoline?
Can you believe it, gasoline prices are out of control again? We’re paying more than $3 a gallon. I can remember back in the ’60s, when I was in high school, I could fill my 1962 Ford up with just five bucks. Fat chance of that happening today. It takes nearly $60 to fill my wife’s new Mustang, and it has a small tank. What really bugs me about the gasoline prices is that most gasoline stations boost their prices to whatever they want when they want. I thought it was based on what you paid for that shipment of gasoline from the dealers as to what you charge. If this is not price gouging, will someone explain to me what it’s called? Our lawmakers need to wake up and smell the gasoline and make some changes, because what I smell really stinks.
Consumer Reports stated last year that by 2008, we would be paying $3.79 a gallon. Guess what? Just four months into the new year, and we’re almost there. This same consumer group reported that by 2016, we will be paying $6 a gallon. By that time, I might not have to worry about driving that much because I will be 68. But somebody has got to help us. I have always heard that the car manufacturers had the technology to make cars that would give 40 to 50 miles a gallon, but the big oil companies don’t want that. I have no idea what is true. The only thing I do know is that this time last year, we were paying less that $2.60 a gallon. Now it’s $3.21 a gallon. Congress says they are trying to control it by introducing legislation to slow the increase in oil prices. I do wear glasses, but I have not seen any help.
Oil companies still are  reporting large margins of profit, and the government still allows them to do this. Don’t get me wrong, I do understand the free enterprise system, but give me a break.
In 2006, Exxon and Shell reported the largest profit ever — $39.5 billion. Yes, I said billion. If you have any Exxon and Shell stock, you might have to sell it to buy gasoline before long. One might think with all the publicity about high gasoline prices that Exxon would give the public a price cut. Well, guess again. Last year, they reported a $40 billion profit for stockholders. I don’t know what’s going to happen. The future might hold electric cars or a universe of hybrid vehicles.
Let’s look back at how much gasoline prices have changed during the past 50 years. In 1958, you could buy a gallon of gasoline for 30 cents a gallon. The price of gasoline remained in the 30 to 36 cents a gallon range until 1975, when gasoline jumped to 57 cents a gallon. Now, if we evaluate the price of gasoline from 1958 to 1975, the price only increased 28 cents a gallon.
Now, here is something pretty amazing, how much do you think gasoline prices increased from 1985 to 1995? In 1985, the average price of gasoline was $1.20 a gallon. I don’t know about the rest of you, but this is puzzling to me. I can’t understand how the big oil companies managed to hold down gasoline prices like that for 10 years. I know some of you believe supply and demand dictates the price of gas. It’s still hard for me to buy that entire story. I am sure there was a big demand for gasoline between 1985 and 1995, but prices only increased on the average of 2 cents a gallon.
Will we see ever see prices drop to less than $2 again? The way it looks now, it’s doubtful. Remember: Drive less and conserve gasoline and I will see you next week for another Cecil’s World in Print, right here in the Morning News and on the tube.

— Cecil Chandler is a veteran reporter at WBTW News13. His column appears Mondays in the Morning News.