CNN: Gas prices edge up 60 cents from the same time a year ago; more increases expected

[Amerigo Vespucci]

Gas prices edge up to $2.80 a gallon
Prices up a nickel in past two weeks according to national survey and are up 60 cents from the same time a year ago; more increases expected.
October 21 2007: 2:24 PM EDT

ATLANTA (CNN) -- Gas prices rose a nickel during the past two weeks, to an average of $2.80 per gallon of self-serve regular, a national survey said Sunday.

That's 60 cents more than prices at this time last year, but 38 cents below the all-time peak of $3.18 set on May 18, said Trilby Lundberg, publisher of the "Lundberg Survey."

The increases reported in the survey, which was carried out Oct. 19 and Oct. 5, will likely continue, she predicted.

"This nickel is a drop in the bucket," she said.

http://money.cnn.com/2007/10/21/news/economy/gasprices/index.htm?cnn=yes

[bluestateguy]

1. I'd like to see price controls

But there is a greater likelihood of Nancy Pelosi putting impeachment back on the table than seeing that ever happen.

[maseman]

2. I have mixed emotions

I would like to see the price-gouging oil companies get spanked. But I would also like to see people who drive ridiculous sized vehicles get spanked. We drive a Honda Civic and a Honda Odyssey. Both great on gas mileage.

I have a Republican friend that barely has a pot to pee in but refuses to give up his 1990 HUGE full-sized van. He is not married and has no kids. He brags how his van gets about 13 miles to the gallon and then complains at the same time about gas mileage.

[TimBean]

4. Price controls will cause massive lineups

Just like the 70's. Price controls cause shortages. Today's high prices are due to supply and demand. The appropriate response to high gas prices? Drive less!

[Selatius]

3. I propose an oil company profits tax. It's an income tax.

This way, they can't pass on the costs to consumers because it's a tax on profits, not a tax on production. The added revenue can be used to, for instance, help fund the LIHEAP (Low Income Heating Assistance Program) that helps the poor purchase heating oil during the winter. There isn't enough money for all the people eligible for the program, and Bush is threatening to veto legislation providing more funds.

[Liberal_in_LA]

5. paid $3.11 a gallon to fill up today... was surprised to see gas above $3 suddenly.