Trying to make sense of gas prices
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Re “Congress pays a visit to gas pump,” May 24
In all the discussions about high gasoline prices, no one has complained nor explained why the 2007 prices did not follow the pattern of the huge 2006 price rise to $3.50 a gallon when crude went to $75 a barrel. Then crude dropped below $70 and gasoline plunged to $2.50; later the price of crude dropped again to $51 in 2006.
However, gasoline prices started up, not down, all the way to the present $3.50, while crude hovers in the low $60s. Refinery shutdowns and increased consumption? No. Increased profits? Yes!
TOM LUBISICH
Malibu
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If gasoline is scarce and that’s the cause of its price run-up, why have we never run out?
STUART WATSON
Redondo Beach
