Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
RE: at what price diesel do you park the diesel benz?
Its going up every day in Houston. Gas will soon follow. As I mentioned on another thread, we were protected from rapaciously high prices all summer due to a combination of high inventories of all fuels and because a lot of futures contracts were still in force allowing refineries to exercise options to buy oil at old pre-$40+ oil prices. On Sept 30, a double whammy occurred. Most of these futures contracts expired, and the inventories were drawn down. So over the next few weeks, the oil companies will begin passing the 70% appreciation in oil prices onto to us lucky consumers. Diesel will come under particular pressure, as more of the supply of diesel gets diverted to heating-oil markets, and because diesel is hugely in demand in the Asian markets, whose heavy industries require more and more of it eachy day.