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Saturday, April 08, 2006

Gas Prices Predicted to Rise Next Week

It is of concern for all of us. Once we get in our car and turn on the ignition we feel an immediate drain on our pocket book.

WSET reported:

"We checked prices in Lynchburg, Roanoke, Danville and Bedford Friday. The average price in Roanoke is $2.52, up nearly 40 cents in just a month. They’re between $2.59 and $2.69 in the Lynchburg area."

One big question I have is the difference in the prices in Roanoke and Lynchburg. Why are Lynchburg prices about 10 cents greater when we are about an equal distance from the distribution point?

WSET also reported:

"There is one bit of possible good news for drivers, Friday the price of crude oil actually fell by more than 50 cents a barrel."

But will this really happen? Insiders in the oil industry are speaking of higher prices this coming week. In this article by WRIC News in Richmond, they report of a new requirement in summer fuel that will require 10 percent ethanol. Right now according to them, ethanol is three times the cost of the previous additive. We support the use of ethanol in gasoline, but we wonder if the forced use of ethanol by the Federal Government is premature, at least until production and distribution problems are worked out.

To read more on how ethanol will affect the gas prices in the coming weeks go to CornDog's Blog.


At 11:58 AM, Blogger corndog said...

Yep. See my post here.

At 3:00 PM, Blogger Wulfweard The White said...

In the UK we pay the equivalent of $5.77 a gallon


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