Summer is almost upon us and people are hitting the highways. Gas prices are rising just as the miles we drive increase.
It is summertime and the RVs are rolling. Where I live one sure sign of summer is the number of recreational vehicles that are on the road. There are times when you would think a caravan is going by, vehicle after vehicle all consuming large quantities of gas.
Out of town plates, besides Quebec which is just over the bridge, also are more common. It is traveling season and people are hitting the road. Maybe not in the numbers they did in other years but they are still rolling.
The Associated Press
reports gas prices
rose Friday for the 45th consecutive day. Summer travellers hitting the highways and refineries hold back on fuel production are why the price is high.
The recession is likely to keep many travelers home this year and this is why the refineries are cutting back on production. Apparently the refineries were operating at 85.9 per cent capacity last week.
Oil-producing countries are also
pulling back; this is part of the reason that crude hit new eight-month highs this week, peaking Thursday at $73.23 a barrel.
The Organization of Petroleum Exporting Countries dropped its daily demand forecast by 230,000 barrels and, estimated global consumption would shrink to 83.8 million barrels a day.
