Research and Evaluation: Fuel Oil Prices

Millions of consumers rely on burn anoint for hotness their households. This is in the beginning in the Northern and Midwest States of America. This is due to the wishing of ready(prenominal) intrinsic blow out production and storage capabilities in those regions. create by mental act it much easier and less expensive for companies to provide this distilled product of gross oil, preferably than build and maintain transmission pipelines for indwelling gas. Additionally, render oil is a by-product of refining other hydrocarbon-based products into lubricants rather than gasoline. Therefore, the market for discharge oil has been created by lack of natural gas, which would be a preferred product, and the demand of the consumer to heat their homes. so far if natural gas where available many consumers would not be able to afford to convert their homes to natural gas alter due to the conversion of their heating units. The harm of fuel oil, bid any other market commodity , is set by the forces of add on and demand. This is true for fuel oil as well as the bleak oil from which it is made. According to the American Petroleum ground (API 2004), the cost of fuel oil has increase recently because ill weather in the Gulf of Mexico and keep instability in some key oil producing regions hand over restricted production, boosting uncut oil prices. Today, a barrel of crude oil sells for more than $54 or $1.30 a gal. This is around $23 a barrel or 55 cents per gallon more than it was a year ago. Over the same period, the price of residential heating oil increased 52 cents per gallon to $1.90(para. 2). Crude oil is bought and sold on the international grocery and is subject to the forces of cater and demand worldwide. We import more than 62 percent of the crude and... If you want to get a in force(p) essay, order it on our website: BestEssayCheap.com

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