Out of Gas Newsletter - Issue 3 August 2nd
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We hope to do a couple of things -
1. Teach you how the fuel industry works (in terms anyone can understand).
2. Keep you updated on the latest industry news - this may help you put off for a day or two
when buying gas, because prices are trending lower or buy it today because prices are
trending higher.
3. Give you some tips on saving money in other areas of your life - every Friday we’ll also
post one of these tips on our blog.
If you find our tips useful please don’t hesitate to forward it to a friend… we’ll thank
you and they’ll thank you as well.
++ News -
We’ve worked on getting some formulas online that will help you save money on Gas - you can find the post here.
Oil prices - The good (no make that great) is that gas prices continue to fall. The average price that it has fallen has been around 20 cents or so. The big reason is that a price of a barrel of oil has went down… how long will they stay down. Unless something happens drastically in the supply or demand then I think that they will continue to go down.
++ The Oil Industry
Basics of Supply
This week we’ll be talking about the basics of supply. We’ll talk about the big picture and
then work on going in depth in the weeks and months ahead.
Supply deals with everything that brings oil from the ground to the pumps.
This includes -
The actual drilling of the oil.
Transportation from the oil well to the gas refinery - this could include pipeline, trucks, and cargo ships.
The Refinery / Refining process
Again transportation from the refinery to the gas station.
And finally the gas station itself.
We’ll talk at length about each of those aspects later. A good thing to remember is anything that disrupts any of those supply links, could cause an increase in price.
Some examples would be a war, a pipeline that breaks, a refinery that gets shut down, truckers go on strike etc.
Having Fun Saving you Money
Since Back To School time is just around the corner - have your kids (Mom & Dad can do this too) write on a piece of paper what they would like to do that would cost less than $10.00.
Offer the best idea a prize. Have a vote on the ideas by each member of the family. Try to do each of the activities before going back to school.
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If you haven’t had a chance to buy our gas mileage guide we would encourage you to do so.
you can find it here.
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