Why the high gas prices?

A couple of weeks ago now, everyone noticed, and all seemed excited, that gas prices had dropped below $1.20 per litre. Think about that for a moment.

I was looking forward to the wonderful break in price gouging the very next morning as I pulled the nozzle out of the pump and began to insert it into my tank. When I glanced up at the gauge, however, and saw the price back up to $1.339 I blurted out an unmentionable expletive that I hope was not heard by fellow suckers at the pumps.

There are several reasons why gas prices are so high at the moment, and the only good one is that crude oil prices are/were around $70/barrel.

World politics and oil production affect supply and demand, and whenever demand is greater than supply we will all pay at the pump. Commodity traders purchase massive gasoline contracts and when they dump them for a profit it affects our pump prices, as does our woeful Canadian dollar now wallowing at depths less than 77 cents the value of a US dollar. . . .

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