Truckers Hit Hard with Rising Diesel Prices
Global demand rising
- Duration 1:48
- Date Aug 10, 2012
Global demand rising
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Favorite they're good to see a you know we have some peace of mind about gasoline prices and diesel prices earlier this summer you were caught the last -- Prices were really spiking -- on knocking on four dollars a gallon store.
And people expected that to last through the summer -- kind of died in late spring.
Gay people peace of mind but now the price rises are back up again a triple -- says.
The price rises -- seen in gasoline and diesel fuel over the past several weeks are the highest.
They've seen this as they began measurements back in the year 2000.
I just had a bit of an eye opening experience a few minutes ago I went up to visa pumps that are behind me right now.
And took a lot look at how much diesel cost one guy at that at the pump closest to -- bought 58 gallons of diesel.
He spent 223.
Dollars for that.
The next -- down the guy bought 78.
Gallons of diesel he paid 300 dollars for.
What was the explanation for this incredible price -- that we've been saying in recent weeks if all goes back to global demand.
Into the price of crude oil it's been ramping up quite a bit it went from 78 dollars a barrel all the way up to 93 dollars a barrel in recent days.
Worldwide demand is increasing that kind of defies a lot of expectations peoples of the world wide recession is -- holding prices down.
But the Third World is increasing its demand for oil causing world -- prices to go up.
Tensions in the Middle East also contribute to price rises.
As that price rises as does the fact that the refining compact capacity this country is strained exacerbated by that refinery fire that we saw.
In California this week as this day progresses we're going to be talking to some truckers and seeing how.
It hits their bottom line all of those prices eventually passed on to the consumer in the grocery store and for any commodity any product that is transported.