There has been this upward and downward movement of the oil prices in the last few months. Every time the price moves up manny people become jittery anticipating the negative effects which had culminated from those high prices that had prevailed in the not too distant past, those memories of the accompanying increases in the cost of transportation and goods services. I am now wondering if the prices will get back to those extremely unfavourable levels again or has there been any developments that might inhibit any similar increases in the prices of oil o the commodity once again.
In my opinion, oil has been around for quite some time now. Since its not a renewable resource, scientists have ben researching on other fuels like nuclear energy and electric driven machines. However, old habits did hard and it will be quite a while before oil registers a decisive plunge. Then it will be more affordable starting a new cycle of usage and exploration.
Not immediately, although they are slowly starting to creep up again. petrol prices are solidly above £1.10 in most places now, which is unfortunate because only a few months ago they were below 96p/litre near me. $50 is likely to be the benchmark for the rest of the year at least, unless something very drastic happens.
With shale oil thriving in United States and Middle East lowering their prices to remain competitive I think not. Take into account how much percentage of transportation Sector already is moving towards another sources of energy such as electric and gas. Transportation sector is the major consumer of fossil fuels and its change will greatly affect price oscillation. Good riddance, there is so much tiranny and foul play in oil Industry.
Well it depends on where you are located. If you are located in a country with economic bilateral relations with the oil supplier, then it's unlikely your government would have to put with $100 per barrel of oil. But I do understand why the price is that high. Most Middle East countries are in a crisis because local oil manufacturers have grown over the last few years.
It will take a while before oil prices go back to $100 if there'll ever get there that is. Some experts say that we'll have low oil prices till 2018. However as more countries discover oil odds are to make it harder for these new countries to sell their oil, oil produces like Saudi Arabia and Russia could sell their oil at cheaper prices to drive the competitors out of business. Thing though is gas prices will keep creeping up.
Is this the latest in the news? I don't feel good about it. Right now we are enjoying the gas prices at 39 pesos per liter. It used to be at 54 pesos per liter some 2 or 3 years ago. But when Saudi Arabia started pumping excess oil that flooded the market, the world prices went down and even reached 35 pesos per liter. It's a good time now since the pump prices would increase by some cents and next week would go down by some cents. This present cost of gas at 39 pesos (a bit less than $1) is comfortable with me.
Well, actually gas prices are generally more expensive in the summer anyway. This would seem to be the seasonal fluctuation we are used to. I am not too concerned though, as gas is still pretty inexpensive here. YOu could consider apps or websites like gasbuddy to help you find some of the lowest prices for gasoline in your area.