While the pundits hash over the putative causes of rising gasoline prices—Mideast tension, refinery shutdowns, speculation—the harsh reality is that pump prices are going to continue climbing because they still have a long way to go. In reality, what American consumers are experiencing as sky-high gas prices are an illusion created by the currency-debasing ways of the world’s central bankers. It takes more dollars to fill up your tank because every one of those dollars is worth less. But even the illusion of high prices hurts when it your family has less money to spend on food, housing, clothing and fun.
As noted by Bloomberg economist Rich Yamarone (via Zerohedge.com):