The price of gasoline is beginning to put a pinch on consumers. (AP Photo/Ted S. Warren)As we are an automobile-loving and automobile-needing population, we obviously are very sensitive to the price of gasoline. And lots of things affect prices at the pumps.
Of course, we are keenly aware of the basic rules of supply and demand. Since much of our oil and gasoline supply comes from overseas sources that may be disrupted, there can be reductions in supplies even if demand hasn't gone down. That boosts prices.
Then there are price variations related to refineries, additives, taxes, bad weather and other factors. Some of those factors are controllable; some are not.
We have seen gasoline priced close to $4 a gallon recently. But now it is reported by those who watch the markets that, even though demand customarily rises in summer, gas prices may decline about 50 cents in coming weeks.
We hope that's true, though of course there is no guarantee. Guessing how much we will pay month to month to fuel our modern chariots is an iffy business - at best.