Sort of spin-off from gas price - oil price
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    Registered User Dutchie's Avatar
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    Default Sort of spin-off from gas price - oil price

    Just heard that oil hit the $120 mark this morning because of the unrest in Libya and the entire Middle East and North Africa. (It seems that Libya has one of the highest oil reserves in the world. We also heard something yesterday on our news that we have gas stations that belong to the Libyan government. WTH ! )

    We also heard that our gas price will be $ 8.95 per gallon by the end of the week because of the oil price.


    UGH!!!!!!!

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    Registered User imagine's Avatar
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    Quote Originally Posted by Dutchie View Post
    Just heard that oil hit the $120 mark this morning because of the unrest in Libya and the entire Middle East and North Africa. (It seems that Libya has one of the highest oil reserves in the world. We also heard something yesterday on our news that we have gas stations that belong to the Libyan government. WTH ! )

    We also heard that our gas price will be $ 8.95 per gallon by the end of the week because of the oil price.


    UGH!!!!!!!
    How much of an increase is 8.95 a gallon for you?

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    Unrest in Libya and yet...

    The oil markets have been the main point of interest, especially as Libya accounts for a chunk of the world's oil supplies at a little under 2 percent of global output.

    from this website: Libya clashes hit world stocks as oil surges- MSN Money

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    Registered User Dutchie's Avatar
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    Quote Originally Posted by imagine View Post
    How much of an increase is 8.95 a gallon for you?
    It is about $0.98.
    Our gasoline is very high.
    (I got a tank full for 1.56 euros per liter last week and they predict that it will be 1.75 euros per liter.)
    But this would be the highest it has ever been.

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    Quote Originally Posted by Russ View Post
    Unrest in Libya and yet...

    Our news has just come with the following - Saudi Arabia has said that they could pick up the shortfall of Libya and that has helped bring the oil price down a little. It's now around $115.

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