Crude oil plunges

Crude oil plunged more than $2 a barrel from a nine-month high.A weaker economy points to weaker fuel demand.''Crude oil for July delivery slipped $2.12, or 3.2 percent, to $64.81 a barrel at 1:09 p.m. on the New York Mercantile Exchange. Yesterday's close was the highest since Sept. 7. Prices fell 0.4 percent this week and are 7.8 percent lower than a year ago.Brent crude oil for July settlement tumbled $2.42, or 3.4 percent, to $68.80 a barrel on the London-based ICE Futures exchange.Will this have a effect here in Portugal, I don’t think so probably we will see yet another petrol increase …. These petrol companies have no shame…

THE SAGA CONTINUES

Have you ever wondered what it will be like if the crude available in the world suddenly finished...would we be in a better or worst situation than we are now! No one can say for sure, the big oil companies together with the car makers surely have alternative solutions... But for the time being they are not interested in having cheaper oil prices, they only see profits going higher and higher, and here in Portugal the situation is even worse... No wonder we have one of the highest fuel prices in the world, the oil companies all they see are bigger and bigger profits, mainly the national company (GALP) which is always the first to increade the final consumer price..,.