Gas & Oil News
The National Average for Unleaded Regular moved up a half a Cent to $2.234 a gallon, while on the other hand crude oil has dropped to $51.77 per barrel from just under $55 a barrel on Monday. This comes as no surprise to me. If the price of crude oil keeps bouncing up and down between $50 and $55 a barrel as we approach this Memorial Day Weekend, expect to be seeing The National Average for Unleaded Regular around $2.40 a gallon.
Take this thought into consideration; China & India's demand for crude oil is increasing at a horse race pace, U.S. refineries are antiquated and are struggling to produce enough gasoline to meet the humungous demand, and the world suppliers of crude oil are finding less than the world is consuming!
It now seems to me, we are all in the same boat, and it is slowly sinking!
New oil discoveries outpaced by increasing demand:
http://feeds.bignewsnetwork.com/?sid=77d761df72320511
Davitte’ Lanier
Petroleum Industry Analyst
Take this thought into consideration; China & India's demand for crude oil is increasing at a horse race pace, U.S. refineries are antiquated and are struggling to produce enough gasoline to meet the humungous demand, and the world suppliers of crude oil are finding less than the world is consuming!
It now seems to me, we are all in the same boat, and it is slowly sinking!
New oil discoveries outpaced by increasing demand:
http://feeds.bignewsnetwork.com/?sid=77d761df72320511
Davitte’ Lanier
Petroleum Industry Analyst
posted by bettergasmileage @ 11:07 AM
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