NEW YORK _ Nowadays, it’s known that gasoline prices are on their highest level ever. This is also the case in the U.S. The gasoline prices are on their highest level since June. Many analysts predicted that there would be a record spike in pump prices this spring so it looks like they will be right.
Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, said that they have got a major supply cushion.
Gas prices rose 2.9 cents overnight to a national average of $3.115 a gallon at the U.S. pumps. In Canada, retail pricing is different because of taxes, currency fluctuations and other factors. A litre of gasoline costs about 111.673 Canadian cents now while a year ago the price was standing on 94.748 cents a litre. Again an example that it’s not normal anymore how prices keep on rising. In London, April Brent crude futures rose 77 cents to settle at $97.01 a barrel on the ICE Futures exchange.
Analysts think that new records will still be made in the future, but Ritterbusch doesn’t agree with that. He thinks the high level of supplies will lower the prices. He doubts because prices won’t rise if there isn’t a major overseas supply disruption or domestic refinery outage.
Source: http://www.theenergynews.com/news/cp_article.php?storyid=2319
INDEX: BUSINESS INTERNATIONAL OIL&GAS
© 2008 The Canadian Press
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Those gasoline prices...
Everybody complains about it. I think it's time that cars and other machines work on water or another cheaper fuel. I know, they are very busy with alternative fuel, but I think its time to introduce them in our life. So that people can use those inventions. Nowadays you pay an onbelievable sum of money just for gasoline and it looks like those prices will never stop getting higher and higher...
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