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Fuel Prices in your area?
I am curious as to what gasoline and diesel prices are around the country, and the world for that matter. Do you think lybia has that much influence with oil production as to affect a significant price increase? What is the cause of this increase, in your opnion?
Prices in my area jumped yesterday, from $2.97 to $3.10 for a gallon of regular unleaded gasoline, and diesel fuel was @ $3.50 per gallon this morning on my way to work. Any thoughts or comments?
Prices in my area jumped yesterday, from $2.97 to $3.10 for a gallon of regular unleaded gasoline, and diesel fuel was @ $3.50 per gallon this morning on my way to work. Any thoughts or comments?
Best Answer
I was just on my way to check the current price of gasoline. Would anyone like to join me?
Do you like my outfit?
Do you like my outfit?
COMMUNITY LEADER
I think he is an instigator......ya that is what i said!! Haha addict is getting in trouble!!
Addict, I have to mention that in the past several months you have posed questions here and disappeared for a day or so. Have you noticed the direction your posts always go in? In this one, you began by asking about fuel prices and two days later, we are now discussing the possibility that Vicki may, or may not, be moonlighting as a Lot Lizard. I would like to know how you manage to steer the conversation???? LOL
up to 3.80 in less then 24 hours
COMMUNITY LEADER
Think i will come to NM and fill up!!
Jen- So,why didn't you come and help me out while I was being sooo patient?? I exhausted myself for ( I'm sure ) nothing and had to take a nap!!! I now have some coffee and a FULL tank of gas!
Gas remains at $3.16
Gas remains at $3.16
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The American share of the Libyan fossil fuel market( which only represents a small percentage of global oil production) is very small( less than 10%) and there are still many more reliable and secure supplies from other oil producing countries. How the crisis in Libya translates into disproportionate fuel price increases here in NZ, the US and the rest of the world is a mystery to me.
I only have a laymans understanding of global economics. At a guess i can see how the Libyan crisis can motivate speculative energy markets to stockpile the available oil from secure sources( North Sea, Gulf of Mexico, Middle East) in anticipation of a much larger energy crisis. The increased competition for the remaining, available supply drives up the barrel prices which are inevitably reflected at the local pumps.
Libya is the 9th largest producer of fossil fuels and the largest source of crude oil in the African continent. Any threat to this supply( however small and inconsequential on the global scale) is enough of a catalyst to drive up fuel prices everywhere. Europe(France 33%, UK 15%, Austria 10%,) is by far the largest consumer of Libyan oil and therefore more vulnerable to the impact of any threat to this source .
The cynic in me imagines fat energy moguls rubbing their hands in gleeful anticipation of increased revenues caused through the suffering of innocent people in oil producing nations. The current Libyan crisis is justification for Energy Giants to increase the price of their own stockpiles/reserves which they purchased at normal, pre crisis value for post crisis,inflated prices. The increase is never proportionate to the percieved risk or the true cost to them. I dont understand how a $3-$4 rise in the value of a barrel of crude translates into a 20-25 cent increase per litre at the pump.
So, i can see how the crisis in Libya can cause fuel prices to increase, i just believe the increases are extortionate and not an accurate reflection of the true cost to the mammoth energy giants. It is a boon for them, sponsored by the lowly consumer.