Spring has sprung and gas prices has begun to rise

All this progress and growing optimism about the economy has a downside; higher gasoline prices.
Like every other American, I’ve marveled at prices at the pumps in recent weeks. It is hard to believe that retail gas briefly edged under $1.00 a gallon in late 1998! That idyllic world, driven by $11 oil, is never going to return. Quite the contrary, odds are gasoline prices are heading considerably higher soon.
Just today filling up at Lucky’s in Seneca KS I paid 2.39 a gallon.
The manager said I had better get enough for a couple of months for the travel season is open to higher gas prices this year।

Just what are we paying for ?
Taxes - federal, state and local taxes compromise a large percentage of the overall price of gasoline.
Crude Oil - the largest percentage of the cost goes directly to the crude oil suppliers, particularly the statist Organization of the Petroleum Exporting Countries. In fact, governments worldwide control 77% of oil in proven reserves.
Refining - oil refining costs are artificially high because of regulations. The sulfur level restrictions I mentioned above increase refining costs. The 1990 so-called Clean Air Act adds another cost to gasoline production because it forces certain cities to utilize reformulated gasoline.
Distribution and Marketing
Station Markup (not listed) - individual gas stations must markup each gallon of gasoline that they sell. They have to make a profit to pay their employee wages (inflated because of mandatory minimum wages), distributors, etc.) Some states artifi
Andrew Delmege, AAA’s Manager of Regulatory Affairs, says the world price of oil is moving back toward $60 a barrel because traders are convinced global economic activity is increasing again, especially in China.