Tight Supplies, High Prices for Gasoline: This Too Shall Pass

Don't panic over gasoline.

I hope you heard that message amidst our reports tonight (9/11/08) on concerns over Hurricane Ike causing some local gas stations to run dry and prices topping $5.00 a gallon.

I plan to top off my tank as normal, but I see no need to horde gas. I expect it to be ridiculously high for awhile, then it'll fall back down.

My first experience with tight gas supplies was the fall of 1973, when I was a sophomore at N.C. State University in Raleigh. I had always bought my gas at my grandfather's country store. He had a single pump, selling "American" brand gasoline. But when the Arab Oil Embargo began, I started looking for gas in Raleigh to supplement what my grandfather could sell.

I remember getting up about 5 a.m. to put my car in line at a gas station near campus. When the place opened about 7 a.m., motorists were allowed to buy up to 10 gallons.

The price: a whopping 50-cents per gallon!

The Arab Oil Embargo was Arab States' punishment to the United States for supporting Israel, which had a continuing war with Middle East nations. The oil embargo also targeted Western Europe and Japan, which also backed Israel.

In March 1974, the embargo ended.

This time we face the fury of Hurricane Ike, aiming straight for the oil producing facilities of the U.S. Gulf region. In anticipation of the storm's destructive force, oil companies have shut down or greatly reduced operations at their Gulf facilities.

The oil situation likely remains uncertain until Ike passes and the damage can be assessed.

In the meantime, it's obviously a good idea to curtail driving as best you can. Gas is going to cost a good bit more, and it may be more difficult to find.

Need some good common-sense ideas for reducing your personal demand for gasoline? I found these at www.solveyourproblem.com:

1. Get rid of the gas guzzler
2. Shop around for gas
3. Multi-task: take care of several errands in one trip
4. Walk, ride, use the bus
5. Pay for your gas wisely: cash is a better deal
6. Buy your gas in the early morning or late evening: you get more gas for the money when it's cooler
7. Turn the nozzle 180 degrees after you pump so you get the gas still in the nozzle
8. Buy a lower grade of gas

You might consider this as well: since all the craziness over gas supply and price is being caused by Hurricane Ike, pray that the storm will not do serious damage.

Hopefully by this time next week, we can cross "gasoline" off our personal lists of things to worry about!