Wednesday, August 06, 2008

Good Gas Price Drops and Bad

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From today's Inqy we have this rather sunny portrait of falling gas prices:

Prices at the gasoline pump came down again yesterday in the Philadelphia area, and another big drop in crude-oil futures means motorists could see the price break continue.

The average price for regular-grade gas fell a penny from Monday - to $3.92 a gallon in Philadelphia and the four suburban counties in Pennsylvania and to $3.72 in the three South Jersey suburban counties, according to AAA Mid-Atlantic.

The cumulative drop over the last month amounts to a significant savings for drivers - 23 cents a gallon in the five Pennsylvania counties, and 24 cents in the three South Jersey counties.
But wait, didn't the Inqy scold John McCain for calling for a "tax holiday" on the $0.184 the government makes on every gallon? Why yes, yes they did. If 24 cents is good, wouldn't 42.4 cents be even better? Not according to the Inqy's analysis I suppose.

Perhaps the Inquirer is shedding readers at an alarming rate because they just don't understand that dropping gas by 18.4 cents by reducing taxes is just as good as dropping it by market forces. In the eyes of the Inqy Editorial Board, no taxes should ever be repealed, even it were to benefit every single subscriber they have.

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