Today’s fuel price musings - The power of the Chinese market
June 19th, 2008 at 11:27am Thomas V. Bona
Perhaps its fitting that as I’m sitting here in Rockford with a group of Chinese business and government leaders, its news out of China that’s causing a drop in oil prices. The government is raising the price of gasoline, diesel and aviation fuel by 8 percent Friday, the first increase since November. That could lead to a curbing of demand in the growing economic power, as China follows other Asian nations in raising prices recently. Oil prices have dropped $3 so far today. Let’s see if it keeps going.
(By the way, shout out to blogger and businessman extraordinaire Bob Trojan, sitting next to me here with the Chinese delegation.)
On to the prices (courtesy of AAA’s fuelgaugereport.com)
Gasoline: Rockford fell another two cents to $4.05 a gallon, an almost nine cent drop in the last week. We’re still seventh in the state in gas prices. The state average dropped almost a cent to $4.14 a gallon. The national average dropped a fraction of a cent today to $4.07. Illinois now has the tenth-highest gas prices in the nation.
Diesel: Rockford dropped more than a cent today to $4.79. We’ve dipped to the fourth-highest diesel prices in the state. The state average dropped a fraction of a cent to $4.80 a gallon. The national average dropped a fraction of a cent to remain at $4.79 a gallon. Illinois has the 19th-highest prices in the country (including the District of Columbia).
Entry Filed under: Fuel price musings
2 Comments Add your own
1. Bob Trojan | June 19th, 2008 at 4:05 pm
I occasionally survey the Guardian and Times on Line - UK media, and what I find interesting is the lack of concern for the rise in fuel (or is it petro) prices!! I know they are double or more than ours, yet, every day that’s what we hear in the U.S.. Are we Americans spoiled by having low fuel prices (or is it gas).
This reminds me of the run-up to Y2K…remember the panic about the world was going to shut down? I was in charge of 3 other companies in the UK, Netherlands and Italy and our management insisted on audits, detailed check-lists and even calling me on Jan. 1 to verify all was well.
When I made my quareterly visits, they would look at me and stare, like…what’s with you? NO PROBLEMS!! What’s the worry?
Sure enough, the big day came, nothing happened, and the stock market and technology sectors collapsed….
2. Bob Trojan | June 19th, 2008 at 4:10 pm
By the way, how did you link to my blog since I put it in well after yours went in?
Thanks for the kudos!
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