Bought tires lately? If it seems like prices are on a quick rise, that’s because they are. The Wall Street Journal took a look into the situation and explored many of the avenues that drive tire pricing from week to week.
There is some interesting stats in the story talking about the increase in wheel diameter over the years and how the tire companies have been driving at the OEMs to use more high performance tires because of the increase rim size.
Our president slapped a 35 percent import tax on tires imported from China so tire companies closed down plants and are moveing so it slowed down production and raised supply and demand.Also tires are petroleum based everytime gas goes up so does tires. Thank you Mr. President for helping out economic recovery!!