PETROL prices may be about to get pumped back up. After a slump in oil prices gave drivers a break from rocketing fuel bills, the OPEC cartel of oil-producing nations agreed a huge production cut to try to force crude values back up.
Output was slashed by 2.2 million barrels per day in a bid to push prices up from the current per barrel to around . When petrol reached an average level of 119.5p per litre in July, that figure was 7. But some analysts say plummeting demand brought about by the global economic crisis will prevent a price hike.
2 comments:
We seriously need to get on with the business of becoming energy independent. While we are doing the happy dance around the pumps with the lower prices OPEC is planning yet more production cuts and will not quit until they achieve their desired price per barrel. The record high prices this past year have done serious damage to our economy and society. It would cost the equivalent of 60 cents per gallon to charge and drive an elctric car. If all gasoline cars, trucks, and suv's instead had plug-in electric drivetrains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota.WE must move forward with energy independence. We have the knowledge, we have the technology, what America lacks is a plan. Jeff Wilson has a new book out that is beyond awesome. The Manhattan Project of 2009 Energy Independence NOW. He walks you through every aspect of oil, what it is used for besides gas, our depletion of it. The worlds increased need ie 3rd world countries becoming more modernized and consuming more. He explains EVERY alternative energy source and what role they can play to replace oil. His research is backed up with hard data and even includes a time frame and proposed legislative agendas to wean America off oil. http://www.themanhattanprojectof2009.com
Petrol price is getting huge now a days.
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