The price of bulk oil dropped today, even at the reports of Hurricane Bertha. The strengthening of the American dollar and the ease of a storm on the Gulf coast has caused oil to tumble down below $136.
Despite this, gas prices are remaining at $4.10 a gallon. Because of these prices there have been a lack of demand for gas, as many Americans have opted to stay home or limit their vacations this year.
As we inch closer to the 4th of July weekend, bulk oil prices are still increasing as supply and demand in the U.S. dwindle. With a weak economy and threat of war in the Middle East, oil and gas prices have been fluctuating for months.
Despite all of these issues, analysts are still claiming that gas and oil prices will slide once a peak (which at press time has been around $143 a barrel) has hit.
Gas thieves aren’t just a problem on land. With the high price of gasoline, they’re also striking on the water.
Police are saying that they are receiving reports of gas cans being stolen and gas being siphoned from boats left tied to the end of docks or on boat lifts.
They’re reminding boat owners to remove gas cans and outboard motor oil when they secure their boats for the night.
This weekend, it was announced that Saudi Arabia will increase oil output by an additional 200,000 barrels. This will make the daily total of bulk oil 9.7 barrels. The news caused a slight decrease in gas prices, though most analysts are saying that this will not cause a dramatic change in prices.
Despite this output, the White House is still championing an increase in U.S. supplies via off-shore drilling.
In two separate deals, Affinity Events added four boat or boat/RV consumer shows to its lineup, along with seven RV consumer shows, the company said in a press release yesterday. With the recent acquisitions, the company now produces 15 boat shows around the nation.
Three boat shows were acquired from MAC Events, LLC, based in Spring Lake, N.J. The Fall New Jersey Boat Show and New Jersey Boat Show are both held in Edison, N.J. The MAC Events Boat Show Richmond is held in Richmond, VA. Affinity Events plans to combine that show with one of its existing Richmond boat shows.
The company also acquired two boat shows from Mid-America Expositions, Inc., all produced in the Kansas City, Mo., area. The Fall RV & Boat Show is held in Kansas City, Kan., while the Mid-America Boat Show takes place in Kansas City, Mo.
The acquisitions give Affinity a total of 45 consumer shows, all acquired or launched over the past four years. The total audience of boating, RV, powersports and outdoor recreation enthusiasts who attend Affinity-run shows now exceeds 500,000; these events are also a coup for marine engine oil companies and other retail vendors.
The floods in Iowa this week could predicate rising gas prices, yet reports of a decline in gas sales have urged companies to finally keep their prices points low. In the second day of slippage, gas prices have shown that their prices have increased 36% versus a 94% increase in bulk oil. The discrepancy is hard to miss, but the demands for gasoline have been decreasing since January, with many people using alternative transportation such as busses, bikes and carpools.
The upcoming financial forecast for fuel suggests different outcomes. A potential strike in Nigeria, as well as the floods in the Midwest, could drive up the prices of gas, but as crude oil continues to fall, gas prices may as well.
Bulk oil once again hit a mood swing as it surged towards $140 a barrel, only to fall by day’s end. However, the average gas price has hit $4 a gallon, though some areas have been paying up to $4.45 a gallon for regular unleaded gas.
Oil also continues to decline based on the lack of consumption based on the current record break gas prices.
Last week, bulk oil prices fell away from the $130 mark and ended the week at $122. Now, oil prices are rising again to $123 a barrel. This comes at the heels of the dollar weakening against the Euro, as well as beginning of hurricane season. The changing oil prices has failed to slow the prices of gas, however, as it inches closer to an average of $4 a gallon, though most states are paying beyond that now.
Analysts predict that the $4 mark will be the peak and begin to drop as the summer progresses.
This week marks the beginning of hurricane season. Here are some basic tips to help you out in case you live in a region of the country that is afflicted by these storms:
On Thursday, declines in bulk oil due to delays with tankers along the Gulf Coast have caused gas prices to rise towards a national average of $3.95 a gallon. Analysts predicted gas prices peaked over Memorial Day weekend, but with Indonesia pulling out of OPEC and the current tanker problems, they are now forecasting a $4 a gallon on a national level soon.
With the boating industry facing an uncertain summer, bulk oil prices went down under $130 a barrel on Tuesday, after the traditionally vacation-heavy Memorial Day weekend. Prices sank amidst reports that demands for gas had dropped due to high costs; others speculate that it was simply a high peak in the normally high holiday weekend.
With these declining prices, analysts are now claiming that gas prices may not reach $4 a gallon, after all.
As reported by NPR, the summer season in New Hampshire’s Lakes Region is just getting started, but as gas and outboard motor oil prices continue to set records on land, some boat owners are keeping their vessels in storage or selling them altogether.
That’s already starting to affect marinas that store, dock, rent and sell boats. Other businesses, such as charter boats and tourist cruises, are setting their summer rates and weighing whether to swallow high fuel costs or pass them on to customers.
Of course, this sudden conservative attitude towards boats means that with a waning demand, the waters are clearer for a more personal boating experience. Though the price of outboard oil is slightly up, the experience of a relaxing boating trip may be worth the hit. However, if you’ve planned your finances accordingly, then boating this summer won’t be such a worrisome activitiy.