Up, Up, and Away!! (But coming back, hopefully)

The issue addresses the continually rising prices of products that producers are easily placing in the United States' market. This is a kind of rebound in the industrial production from the records last month. These rising prices include the cost of gasoline and other necessities, but mainly those that are oil driven.

A few months ago, the gasoline prices took a dip, a wonderful surprise that nearly everyone celebrated, but the plunge in crude oil prices steadily subdued producer inflation and has damped overall domestic price pressures. (Just a fun fact, I once filled up an entire tank of gas for my Toyota Camry for $20.67) Then, as if trying not to raise people's hopes up too high, President Obama announced to the nation that the gas prices in the nation would indeed be very low for awhile, and it was, but it will gradually rise and become the average gas price that most citizens have paid for before. It went all the way from a staggering $3.50 per gallon to nearly a delightful $1.50. However, nearly about a month after that pleasant announcement, he warned the nation that the then current gas prices would begin their steady increase; and although it did, it did not increase all the way up to $3.50, but it did increase by a dollar or so in June to about $2.50.

Scarcity of natural resources was probably the reason why gas prices were so high. Obama had used positive economics to describe the current gas prices, but he then stated the normative, where he addressed what the gas prices should be. The United States buys oil from the Middle East, mainly Dubai and surrounding nations, because they lack their own nation's oil providers. A suggested reason for why gas prices were so low was that the United States had found a new way to get oil or had found oil itself on its own land. But if that were the case, why is the price of oil going up?

However, as the oil prices steadily rise, inflation is stabilizing. So perhaps it is a good thing that gas prices are rising, but a powerful dollar might suggest any increase will be gradual. In the economy when something goes up, something else must go down, it's never a win-win situation.

Although many are not happy with the rising gas prices, at least inflation is going down, and perhaps the American dollar is getting stronger. Something that will prove to be a great benefit to the nation. The dollar and lower gas prices have hurt profits of multinational corporations which is pressuring the manufacturing industries.