Unless Obama has signed a bill passed by Congress to raise the tax on gas, I’d say no. THe price of gas depends on several factors from supply and demand, how far it’s traveling, refinery capacity (remember when Katrina wiped out refineries in the South in 2005 and prices rose), the price set by crude oil suppliers, and the tax a country puts on the oil. If anything, Americans can look on the bright side: taxes are far higher in Europe and gas prices are generally at least double there than what they are in the U.S.
Remember the world demand for oil is increasing as countries like China and India – countries that make a majority of the products consumed in the U.S., develop their industries and standard of living. Also there is the continuing debate that we are running out of easily accessible oil; there are reports of Arabian nations pumping water into the field because they’re running dry, former oil company employees who have come forth to say the supply is limited, and fluctuating numbers guessing the year we will or have hit Peak oil.
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