No one escapes the price of pretroleo and its derivatives is governed by supply and demand in an international market, and of course, this is a product not unlimited, it is not a renewable energy.
Since a few days ago, the price of petrol and diesel, have not only been matched as someone long ago predicted, but the price of diesel has surpassed that of gasoline. And of course these price increases have an impact on domestic economies of individual countries. Today there have been several reports in this regard.
On the one hand, we went through again, maximum inflation, the 4'4% this February, the highest rate since 10 years ago. Part of this inflation is the direct responsibility of increase in the price of transportation, about 7% in February, did not increase in proportion to the rise in fuel, ergo there are other reasons for inflation is not related to the oil.
Analyzing some of the moments increases stabilized in time can draw several milestones. On the one hand, wars, whose continuous supply of energy demand rises and the price of crude oil, in particular the war in Iraq. Recently, on the other hand, the nationalization of products and companies in Latin American countries, as well as tightening up the conditions for extracting those in foreign countries. Of course, in parallel also have an impact on the prices of such relations with other countries, the recent crisis between Colombia, Venezuela and Ecuador have been able to pass. And finally, what new substitute fuels tend to raise the price of crude oil when they are being tested or initiation, I refer to ethanol.
At one point, the rise in prices of petroleum products in the Euro zone has been quite dampened due to the weakness of the dollar. The U.S. economy has not acted entirely as a mere slide or visagra nor as a divider of the price, that is, in terms of prices of Brent sweep, we have agreed the crisis in the United States, but has not done so proportionately.
Today, in addition, Hugo Chavez asks for more than oil quoted in Euros instead of Dollars. If given this, the euro zone could impose its strength to bring down the price of oil, but the ups and downs in prices would impact directly, or incluson could rise still further in a short and medium term, until the world economy accept this currency exchange in the market value. Can you imagine a new rounding upward? In addition, the ongoing weakness of the dollar, the currency change to levy further negatively affect the U.S. economy.
One thing is clear, and that is that OPEC is keen to sell oil in euros gaining, and indirectly are doing that already. So far the dollar is lower, more will raise the bar of Brent so that the change will continue to receive the same Euros. So, that as long as the U.S. economy does not leave the foreseeable recession oil will continue to become good. And with the Easter ahead, with 15 million journeys, a centimito or two more.
.... UPDATE ...
U.S. not repodrá its oil reserves during the second half of the year, so they expect to reduce their demand for action on the price. While these stocks represent a very low percentage of the total market.
In addition, OPEC through Saudi Arabia, said that if the market needs more oil, just have to say, as they are able to serve more. And increasing production at 300,000 barrels a day more.
But it is not expected that these measures will lower the fuel prices because oil is traded on the assets.
