Oil, what the hell?
As most of you are hearing, Oil prices have been surging day after day in the past 2 years or so. even though it’s justified that oil prices will go up I didn’t see it happening that it will reach a price of as high as $143 per barrel and expected to reach $170 by year end according to some analysts.
What i’m wonder is how people “especially” in the US and Europe are handling that. I remember when I first moved to the states back in 2001 I used to pay something around $25 to fill my car tank, and 5 years after than in 2006 I filled the same damn car with the same gas grade for $55, that’s 2.2 times the price in just 5 years or less! According to today’s gas prices (where oil is trading at $143) it would cost me a little more than $70 to fill the tank. oh and it’s not an SUV, it’s the BMW 325Ci.
This high oil prices might be good to some economies such as the members of OPEC, but is it really fair for the rest of the economies and consumers?