Business Update: Gas prices rise

Discussion in 'Growing and Managing a Business' started by irahat, Oct 27, 2009.

  1. irahat

    irahat
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    Americans are having to dig deeper when filling up at the gas pump. Average retail gasoline prices jumped 18 cents over the past two weeks. That's the first two-week rise since early August, but prices are still down from the same time last year, according to the Lundberg Survey.

    A jump in crude oil prices is the main factor behind higher prices at the pump. Crude oil is now hovering around $80 a barrel on hopes demand will pick-up in the future and as weaker dollar makes oil more attractive to foreign investors.

    In earnings news, Verizon added more net subscribers than expected last quarter. Although the telecom giant is losing market share to AT&T, the sole service provider for the popular Apple iPhone, Verizon still beat sales and profit expectations.
     
  2. sajjad.axe

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    do u really think gas prices are at 80$ , lol, global gas pprices range from22$ to 27 $ ,those prices u see saying 80$, 120$ and recently 140$ are bcos of the trading , i mean commodity trading,
     
    #2 sajjad.axe, Oct 30, 2009
    Last edited by a moderator: Oct 30, 2009
  3. Fergal

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    The original poster was referring to the price per barrel of crude oil?
     
  4. dipcliper

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    yup gasoline is rising up almost ever week that's why i sold my car..i bought a bike!less gasoline:)
     
  5. kittelsoncarpo

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    Gasoline price rises up due to high demand but lack of supply. The higher the demand, the higher the price. The fuel will be gone few years from now and that would be a very serious problem all over the world and especially to those countries that are dependent on oil for their industries. But people are learning somehow. Some uses renewable energy and that would be great.
     
  6. DEADMAN

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    Will this be effecting other countries very soon? What is the estimated time?

    I believe what would countries that import gas would have the stage.
     
  7. Fergal

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    This thread was started in October last year DEADMAN, so I would suspect that all countries will have had a price increase by now. When oil prices go up, they increase worldwide.
     
  8. GekiDan

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    But gas prices in our country is lowered.
    Gasoline companies roll back their prices by a Peso.
     
  9. Fergal

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    Thanks GekiDan, I should have mentioned that can happen.

    Oil prices per barrel could increase, at the same time that the price at the pump falls in your country. This could happen if your government decides to decrease the taxes and levies they charge on fuel, the gas stations become more competitive and reduce their prices or if the value of your currency increases vis-a-vis the US Dollar. Oil is priced internationally in US Dollars, hence if the value of the Dollar falls, the price of fuel in your country will also fall.
     
  10. GekiDan

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    According to the news, prices per barrel is decreased son local companies lower their costs.
    But I think it's just a good way to gain more customers.
     
  11. anatomymodel

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    But some economists are worried that a jump in the price of it could slow the recovery.
     
  12. GekiDan

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    There have been a big jump on gas prices in our country. The price was increased by a Peso.
     
  13. ThomasTallis

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    How much gas prices rise.
     
  14. gtt

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    Oil companies here in the Philippines have raised the prices of gasoline (P1.00) and diesel (P0.75) per liter.

    See related news article here.
     
  15. Sahil

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    In India also there is increase in the prices of Gas. There is increase of Rs 2 to 5 in Petrol and Diesel both and I don't think they will be a good solution for future.
     
  16. TimeRider

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    The gas rates may be decreasing in some countries like of GekiDan - Philippines. But it's increasing at a rapid rate in Asian countries like Pakistan, India, Nepal which also sometimes bring crisis. There is shortage and very few stock. Life out there is difficult with crisis in materials like this.
     
  17. GekiDan

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    Very true. It's another big hit to the Filipino's pocket. :(
     

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