Crude prices pushed near the all-time record high of 70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near 70 a barrel, motorists can expect higher pump prices in the summer.
More Quotes from Rose Rougeau:
What I'm hearing is that more and more we are topping the 3 a gallon mark in Texas.Rose Rougeau
Conditions indicate that motorists may see slight increases in retail gasoline prices within the next few days. Typically, pump prices in Texas move lower during this time of year due to a decrease in demand, but with crude oil trading around 63 a barrel that has yet to happen.
Rose Rougeau
The jump in retail gas prices is partly due to the seasonal production switch from winter to summer grade gasoline, which usually brings higher prices as output is temporarily reduced. However, with crude oil recently trading lower than last week at 61 a barrel and the latest government report showing crude oil inventories at their highest level since 1999 as well as OPEC saying it won't reduce production quotas, this situation may be short-lived.
Rose Rougeau
Crude oil prices that continued to stay below 65 a barrel this week, fueled by the warmer than normal winter weather across the U.S., have helped drive retail gasoline prices slightly lower. It remains to be seen however, if these relatively modest declines in retail gasoline prices will continue with the geo-political concerns over Iran's nuclear ambitions.
Rose Rougeau
Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at 49 a barrel and gas prices averaged 1.79 -- 49 cents lower than the current average of 2.28. This week, crude hovers around 66 a barrel.
Rose Rougeau
Be vigilant about restricting your children from riding with a first-year teen driver. It's tempting to have different options for getting kids and teens to and from school, a job, sports practices and other events, but the risks are high. Parents who understand the risks should be more willing to personally drive children until teens obtain their full licenses or have gained enough driving experience to make them feel comfortable with transporting others.
Rose Rougeau
Readers Who Like This Quotation Also Like:
Based on Topics: Summer QuotesAs in geology, so in social institutions, we may discover the causes of all past changes in the present invariable order of society.
Henry David Thoreau
The superior man blames himself. The inferior man blames others.
Don Shula
I would never cheapen my relationships by talking about them.
Kristen Stewart