The claim will be TRUE whenever U.S. retail gasoline fuel prices are equal to or greater than 2.50 USD/gallon on or before 12/26/2005. The national average prices, which are aggregate regular grade gasoline (including reformulated) prices across all regions of the U.S. (surveyed and calculated by the Department of Energy), will be used for this claim as the “U.S. retail gasoline fuel prices”. The nominal prices calculated by the DOE will be used in this claim without further adjustments.
Currently, the price information can be accessed online: http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp#
If the Department of Energy changes its methodology in determining the prices, the new DOE modified prices will be used for this claim. If such modification results in changing any of the past prices to be nominally at or above $2.50/gallon, the claim will be judged TRUE.
As of April 5, 2004, the average U.S. gasoline price (regular, all areas, all formulations) is 178 cents per gallon, up from 151 on January 5, 2004.
Some attribute the increase to tougher environmental laws, lack of refining capacity, rising demands, OPEC, Iraq War, taxes, SUV, etc.; others argue that after many years of false alarms, the world is truly beginning to run out of oil. Whatever the case is, the fact is that the gas prices are higher today. Will the current trend continue?