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Sunday, May 1, 2016

Drivers unhappy with soaring gasoline prices

Thursday, August 11, 2005

As gas prices went on a roller coaster ride, many frustrated consumers were left scratching their heads when dipping into their wallets throughout the summer.

"They are completely ridiculous, but what can you do, you have to have gas to get around," said one gas purchaser at a local station who wished to remain anonymous.

The record breaking price jumps at the pump have cashiers answering questions.

Kulbir Singh, the owner of Brazil BP, Quick Pick South and the Brazil Quick Lube, told The Brazil Times that customers are asking many questions about gas prices, but the public demand for gas has not lessened.

"I feel that the price will stabilize at some point, which is good for the consumer, but if prices continue to go up it will be very bad for the economy," he said.

Oil prices have jumped 30 percent this year because of many factors.

A weaker exchange rate for the U.S. dollar, nervous market speculation, disruptions in oil production because of unrest in the Middle East and production problems in the U.S. have worked together to create supply-and-demand problems. Even if oil companies tried to play catch-up, tankers from the Gulf take six weeks to reach the U.S. And because different regions across the nation require different gas formulations, a shortage in one area can't be met with shipments from another.

The high gas prices are affecting car buying decisions for some consumers taking advantage of recent sales promotions by automotive manufacturers.

"People are looking to purchase vehicles with better gas usage when coming in to take advantage of current sales promotions," Brazil Autoplex Interim General Manager Audrey Scharf said. "They are trading in large trucks and SUVs for smaller trucks and cars with greater miles per gallon averages, but we still have people coming in to buy SUVs that just don't care."

Oil demand is growing at its fastest pace in 16 years and forecasters predict the world consumption rate of crude oil to rise to more than 82.5 million barrels of oil per day within the next few months.

The prediction of higher fuel costs caught the attention of local officials two years ago as they prepared for dwindling budget funding.

Mayor Tom Arthur acknowledges that the high gas prices will affect the city's budget.

"Of course high gas prices affect the budget, but we actually recognized the problem a couple of years ago and started looking at ways in order to lower consumption and offset the higher cost," Arthur said. "By limiting the amount of city take home vehicles to only those individuals that are actually on call, like police officers, we were actually able to cut cost from the budget. And now, in a time when other cities are asking for more appropriations, we're not asking for any."

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