Skip to main content

HIGH GAS PRICES?

CNN.com reports the increasing gas prices in the US that started on May 13. The current average is now above US$3.00 per gallon which is 12.9% increase from last months figures. To make matters worse, more increases are expected due to a projected increase in demand during the summer season.
"AAA warned in congressional testimony last week it believes prices will approach $3.25 a gallon over the next 60 days.

Even with the record gas prices, AAA is predicting a record number of Americans will be hitting the road during the holiday weekend, with 38.3 million expected to be traveling 100 miles or more, up 1.7 percent from a year ago. And most of those - 32.1 million - will be driving, according to the motorist group."

The current pump prices may be worrying us too much but let us examine an old post in this page. Today's price of crude as posted at http://www.oil-price.net, is $65.89/barrel. A few months ago, an article quoted a BBC news report that interviewed experts who estimated the real price of oil to be around $182/barrel. Are we on our way to that level?

Scared?

Related Post: Oil Prices
Labels:

Comments

Post a Comment

Popular posts from this blog

US PRESIDENTIAL CONVOYS

A columnist for a Philippine newspaper talks about the costs and massive preparations required by the US Secret Service whenever President Bush and other (US Presidents) travel outside of Washington DC. I remember watching a CNN report that showed how big a US presidential convoy is, compared to the two vehicle transport being used by Prime Minister Tony Blair of the UK.
10 comments
Read more

DOHA Round Updates & Preferential Tariffs in Practice

T he DOHA round of the World Trade Organization (WTO) negotiations intends to promote the opening of markets and promoting free trade. This April, the latest meeting failed to reach a conclusion. Director-General Pascal Lamy of the World Trade Organization delivered a speech before the US Chamber of Commerce on April 23, 2007. Here are excerpts from his speech. "T oday we know that the Doha Development Round will not be concluded until and unless all these participants are ready to walk the extra mile and table additional contributions to the collective success of this multilateral enterprise. It is clear that the contributions will be linked to the degree of development and wealth of each participant, with the world poorest countries making the smallest contribution. It is also clear that no one will be asked to move first: countries will have to move in concert, like a big orchestra playing to the same tune. For the moment, a group of major actors — the EU, US, Brazil, India — d
5 comments
Read more

Competitive Advantage of the Philippines II

Despite being a newcomer in the global BPO industry, the Philippines have steadily increased its foothold as a top outsourcing destination. Rest of Asia ready to grab BPO jobs from India, RP--study INQ7.net, Agence France-Presse Last updated 08:44pm (Mla time) 11/05/2006 THE PHILIPPINES and India have to boost their overall competitiveness, as Asian countries gear up to get their share of the global offshore outsourcing pie, a recent global study showed. These top two outsourcing destinations will eventually compete with China, and other Asia Pacific countries that have similarly positioned themselves as outsourcing destinations, the latest Offshore City Competitiveness Report of market research firm neoIT showed. The study noted that companies have "moved beyond India" and the Philippines into not so well-known cities in the world since companies want to create a "global footprint." China and Eastern European countries are starting
4 comments
Read more