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May 25, 2011

European Oil Demand at 16 Year Low

 

Reuters reports that in light of record high prices and a mounting EU debt crisis, European demand for oil is quickly deteriorating. Here in the United States, consumer demand for oil is also falling for the first time in months.

Prices have been driving ever higher after months of turmoil in the Middle East have consistently constricted the supply of oil. The military operations in Libya alone are preventing over a million barrels of oil from reaching international markets every day. Industrialized nations are already experiencing slowed growth as a result of energy concerns, prompting OPEC to seriously consider releasing more of its emergency reserves in order to boost supply.

As we begin to enter the summer driving season, we should expect the cyclical rise in crude oil prices. Amidst growing uncertainty and rising prices, now would be an ideal time to take advantage of fuel price protection programs.

Filed under:Energy,Fuel Cost Control,Fuel Price Trends | by Guy in a Suit @ 2:20 pm | 

May 18, 2011

Oil Futures Back Above $100

 

I think we all knew the drop in crude oil prices was too good to be true. It’s over already! Crude closed above $100/ barrel again.

DOE said inventories remained flat (Many thought they would climb)

Some suggest consumers are resisting. $4 gas is making them cut back on time on the road.

“Consumers are still under pressure to economize, to conserve fuel, because the stuff’s become expensive,” said Tim Evans, energy analyst at Citi Futures Perspective in New York.

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 5:28 pm | 

May 3, 2011

Let’s Get A Smaller Car, Dear

 

Yes, it’s true. Americans are turning to smaller fuel efficient cars.

With gas at $4/gallon, it’s either that or walk part way. Filling the tank of my little Honda Civic last week was nearly $50. Yikes!

Chevy Cruze, Hyundai Elantra, and Ford Focus lead the way in sales in April. Toyota is not in the mix-still recovering from earthquake/tsunami issues.

Oh, and small cars don’t necessarily mean no frills. They come with leathers seats w/heaters and satellite radio along with great mileage.

Get ‘em today. They might not be there tomorrow.

Filed under:Fuel Budget,Fuel cost,Fuel Cost Control,Fuel Economy | by Pump Girl @ 6:53 pm |