After watching gasoline prices rise sharply for most of the spring, drivers are finally getting a little relief.
Gasoline prices fell again on Friday and some analysts expect fuel costs to drop even more in the coming weeks. But will pump prices fall as fast as they went up?
I doubt it.
In Knoxville, the average price for a gallon of regular unleaded on Friday fell 1.5 cents to $3.606, according to the AAA Daily Fuel Gauge Report. Thats more than 8 cents lower than a week ago. However, this time last year the average was $2.579.
Just got back from a few days in San Francisco visiting my daughter, Julia. Beautiful weather, lots of fun and too much rich food. But glad to be home and not paying California gasoline prices.
Even though Knoxville pump prices are high — today’s average for a gallon of regular unleaded is about $3.65, up more than a $1 gallon from this time last year — I saw prices as high as $4.29 in San Francisco over the weekend.
High fuel prices are a matter of perspective, but four bucks a gallon is high no matter where you live. Which probably explains the large number of hybrids on SF streets.
Photos: (right) View from a cave at Sutro Baths ruins, San Francisco Bay; (left) Coastal Redwoods in Muir Woods, north of San Francisco.
FedEx CEO Fred Smith has an interesting opinion piece in Fortune today calling on
Congress to quit stalling and pass a bill promoting electric vehicles.
“I am not someone who tends to advocate increased government involvement in the private sector. But there is no free market for oil. This is not a market issue — it is a national security issue,” Smith writes.
With oil pushing $100 a barrel and gasoline prices up substantially from a year ago, now would be a good time for Congress to take this issue seriously.
There’s always hope, but I won’t hold my breath. Congress isn’t exactly known for being reasonable.
Read Smith’s commentary: FedEx CEO: Let’s end our need for oil
Photo: FedEx all-electric delivery truck. (FedEx)
If I was a believer in conspiracy theories — and maybe I am — oil and gasoline prices spiking just in time for the holiday travel season would make me wonder.
Oil is higher than it’s been in more than two years and the national average for gasoline has jumped over $3 a gallon.
Makes me wonder.
CNNMoney Video: Pain the gas
Gas prices top $3 a gallon
Travel picking up this holiday
Photo: Vehicles stop for fuel at the Raceway on Western Ave. on Tuesday, December 21, 2010. (Knoxville News Sentinel/ Saul Young).