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| LETTERS TO THE EDITOR: | ||
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| Why Gas Prices Are Up Again | ||
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To the Editor: Gasoline is a petrochemical refined from crude oil. Worldwide crude oil supply, demand, storage capacity and currency exchange rate are a few factors contributing to its cost per unit. The U.S. pump price for gasolineis determined by crude oil cost, transportation costs, refining costs, storage costs, and the applied taxes. The price of gasoline has reflected the extensive variation in crude oil costs and the steady increased demand worldwide. The crude producing countries; at the request of OPEC, set lower production levels thus restricting supply. THe current U.S. Dollar devaluation has directly increased the cost of crude oil to the U.S. Petrochemical companies. Watch CNBC TV channel from 06:30 to 13:00 daily (M-F) and chart crude oil and gasoline commodity values. THese are all future prices for oil not pumped nad gasoline not refined: "truly speculation". Philip A. Long Posted July 1, 2009 TELL US WHAT YOU THINK!Comment on this story. Send a letter to the editor by email, click here: EMAIL US |
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