With the summer of 2014 comes higher gas prices than before. This is a lot to take in for some that are already having a hard time paying for the rising gas bill that they face each week. Just a slight raise is going to go into effect, a few cents more than the previous two summers. However, with this in mind, the price for gas is still lower than it was just a month before so this might be a plus for some but only a few cents down is not going to be enough.
The reason for this price rise is the demand for oil everywhere. The prices are going up for the demand on oil, which means that those of us that use it will have to pay more for it at the gas pump. There is a lot of tension at the wells, which is beginning the rising prices and a lot of people are keeping a close eye on the costs so that they are able to choose whether or not to use it when the time comes – some of us might not be that lucky and have to use it to get to where we need to go on a daily basis.
It has been reported that oil by the barrel prices are much higher than what we have been spending and this might be a problem when it comes to purchasing gas. With such a strong demand, a lot of people are going to continue to purchase it – even as the prices go up into the $4 and $5 range. This is a lot of money to spend on one gallon of gas, but if it has to be done then it does. Since over 70% of gas is made using crude oil, it is only natural that those of us that purchase at the pump are going to notice the large difference in price and this is going to affect the way that vehicles go around since a lot of people might feel that they are not going to be able to afford this.
However, there is some good news going around that when the prices go up in the beginning of the summer, this is going to be their peak. It is going to be where they drop off at the end of the summer so this price is not going to stay with us. It should then go back to a normal state where the prices have been for quite some time. This is the only good news, but who is to say it is not going to change as the demand for oil rises and the politicians tensions continue to rise with it?