Tuesday, April 11, 2006

Surging Backward?

The headline for a story on gas prices by John W. Schoen at MSNBC reads:

Further surge in gas prices expected

A few paragraphs into the story we learn:

In fact, pump prices are rising along with the temperature, and motorists should expect little relief during this summer's heavy driving period according to a government report released Tuesday.

The official short-term energy outlook from the U.S. Energy Information Administration (EIA) projects the price for regular grade gasoline this summer will average $2.62 a gallon, 25 cents higher than last summer, barring any unexpected supply disruptions. Gasoline prices have soared since February.


Got that? The average is projected to be $2.62 a gallon. In the next paragraph we find:

Last week, motorists paid on average $2.68 a gallon nationwide for regular, an 18-cent increase in two weeks and 40 cents higher than the national average a year ago.

Growing demand, high crude oil costs, requirements for low-sulfur gasoline and greater demand for corn-based ethanol as an additive all "are expected to keep consumer prices for motor fuels...high in 2006," said the report.


So going, on average, from $2.68 a gallon to $2.62 a gallon is a "further surge in gas prices?" A few more "surges" like this and Atomizer will be able start driving his taupe Hummer again.

Don't get me wrong. I'm not thrilled about paying two sixty a gallon either. But I read this story a couple of times and still can't figure out how the contents justify the headline. Something along the lines of "Gas Prices Expected To Remain High Through Summer" would have been fine. However, when I read "surge" I think increase and probably a significant one at that.

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