Fuel prices are going up on Friday. Nothing to do with new taxes.
Gas prices are expected to rise this week for the second time this year.
According to the National Secretariat of Energy, prices are expected to increase 13 cents per gallon of 95 octane gas, 15 cents for 91 octane and 19 cents for diesel. The new prices will go into effect Friday.
This would be on top of the increases that went into effect Feb. 6, when prices rose 8 cents for 95 octane gas, 13 cents for 91 octane and 7 cents for diesel.
Prior to that increase, prices dropped for eight consecutive two-week periods.
Officials said the price increase is due to issues with refineries in the United States. The price of oil has continued to fluctuate on international markets, but its recent steep drops have led to prices being much lower than this time last year.
- See more at: http://www.prensa.com/in_english/fuel-prices_21_4145045456.html#sthash.Vvs1hbK5.dpuf
Gas prices are expected to rise this week for the second time this year.
+ info
According to the National Secretariat of Energy, prices are expected to increase 13 cents per gallon of 95 octane gas, 15 cents for 91 octane and 19 cents for diesel. The new prices will go into effect Friday.
This would be on top of the increases that went into effect Feb. 6, when prices rose 8 cents for 95 octane gas, 13 cents for 91 octane and 7 cents for diesel.
Prior to that increase, prices dropped for eight consecutive two-week periods.
Officials said the price increase is due to issues with refineries in the United States. The price of oil has continued to fluctuate on international markets, but its recent steep drops have led to prices being much lower than this time last year.
- See more at: http://www.prensa.com/in_english/fuel-prices_21_4145045456.html#sthash.Vvs1hbK5.dpuf
Replies
Fuel Prices are going up again this Saturday.
The National Secretariat of Energy confirmed today that fuel prices will increase Friday, the third consecutive increase.
+ info
Spanish version
A liter of 95-octane gas will be 80.3 cents, or $3.04 a gallon, which reflects an increase of 5 cents a liter or 19 cents a gallon.
A liter of 91-octane gasoline will be sold at 75.6 cents, or $2.86 a gallon. That increase will be 4.3 cents a liter or 16 cents a gallon.
Diesel prices will increase 1.6 cents a liter to 69.5 cents ($2.63 a gallon).
The increase is due to issues at refineries in the United States, the secretariat said.
"Despite decreases in crude oil prices at the international level, the final price of fuel is affected by the refining of oil," the secretariat said.
The new prices will remain in effect for two weeks.
- See more at: http://www.prensa.com/in_english/gas-prices-increase_21_4155544414....
Globally and locally, the low oil and transportation fuel prices will not last, so be prepared for very volatile gas and diesel prices in the coming years. Now is not the time to go out and buy a Hummer because fuel prices are low.
The biggest producers of crude oil in the world are the U.S, Saudi Arabia and Russia (LINK). They provide nearly 40% of the world's crude oil. The U.S. and Russia are currently playing games, supposedly to hurt Russia and put political pressure on that the Russian government, because the Russian economy is heavily dependent on energy sales - oil and natural gas.
Although some oil is still profitable at $50-60 per barrel (including Saudi oil), the new "tight oil" from shale and other sources is not.
Drilling for new fracking wells in the U.S. is decreasing because it is not currently possible to finance new wells, which has been done with funny-money from wall street and investor casino-type game playing with "financial instruments.
Drilling rigs are being idled in the U.S. and workers are being laid off. (LINK)
Fracked oil-shale wells are quite different fromconventional oil wells. They are low-volume producers per well, and output begins to decline rapidly after a year or two. Than means that more and more wells have to be drilled in less and less productive sites. We are chasing oil at an insane rate, and as the easy "plays" are drilled, crude oil prices will resume their rise.