Gas is High, Why?

Now here's something par for the course: President Bush blames congress for the high price of gas.

On the business side of things, Mark Lacter notes that "Royal Dutch Shell and BP both reported record first-quarter numbers, beating analysts’ expectations. Shell’s net income rose 25 percent to $9.08 billion. Exxon Mobil and Chevron are set to report later this week." (Emphasis added)

In Los Angeles, the average price of a gallon of regular gas is $3.87, but to find it hovering around $4.00 is not a hard expedition. The lowest gas average in the past 12 months was $2.68 at the end of August.

Previously: $7 Gas Coming: Tipping Point for Public Transit, Bicycles & Alternative Cars

Photo by Zach Behrens/LAist