FOUND THIS ON DRUDGE REPORT THIS MORNING....opis is setting up email alerts to deal with oil problems.. http://news.excite.com/news/pr/00123/nj-opis-oil-increase

-- mutter (murmur@ya.com), January 24, 2000

Answers

Thanks - I've already signed up - it's free and an excellent service.

Bloody hell, if it's on drudge we are due for some ***action***

-- Andy (2000EOD@prodigy.net), January 24, 2000.

Huge Oil Price Increases Imminent for Truckers, Airlines, and Homeowners

Updated 5:00 PM ET January 23, 2000

LAKEWOOD, N.J., Jan. 23 /PRNewswire/ -- Oil price increases, that in some cases surpass the hikes seen during the Persian Gulf War, are about to stun homeowners, airlines, and trucking companies, according to OPIS Energy Group. The New Jersey based publishing company reports that many retailers have yet to pass on recent wholesale price hikes of 40-60cts gal that have hit some markets in the wake of record cold temperatures.

Wholesale prices for many fuels reached all time record levels in the northeast on Friday, as oil suppliers and marketers scrambled to find oil to deliver to end-users in the region. Wholesale prices for heating oil at supply points in New England, for example, soared to over $1.25 gal, an increase of more than 50cts gal in less than ten days. These prices are four times the value they fetched in markets exactly one year ago.

Homeowners and commercial buyers who paid well under $1.00 gal for their heating oil just a month ago now face retail costs of $1.50-$1.75 gal. Heating oil retailers typically have little inventory and must immediately pass wholesale increases on to their customers.

The surge isn't limited to heating oil, however. Diesel fuel prices have soared to similar wholesale price levels as suppliers in Winter-ravaged states have opted to put fuel normally sold for over-the-road purposes into the heating oil supply pool. Diesel truckstops, service stations, and fleet centers in the Northeast saw increases of 25-40cts gal over a three day period this week. Even areas far removed from the Northeast saw stiff price hikes of 5-15cts gal during the week as the oil industry struggled to keep the distribution system moving smoothly in the face of brisk demand and low stocks.

Stiff retail diesel prices will rear their heads before the month is over. OPIS' Retail Pricing Director Fred Rozell cited a nationwide retail average of $1.37 gal for diesel, up less than 1cts gal since January 1. If prices merely catch up with the wholesale trends, some markets could face increases of well over 25cts gal.

In Connecticut and Massachusetts, for example, the average price for diesel stood at $1.39 gal on January 21. Retailers replacing those gallons faced a cost of over $1.60 gal heading into the weekend.

Jet fuel cost increases were even more drastic. Airlines which could buy fuel for under 75cts gal just a month ago saw aviation fuel costs soar to $1.30-$1.35 gal by Friday at major airports in New York, Newark, Boston, and Philadelphia. Like diesel fuel and heating oil, these costs are about four times higher than what was commonplace a year ago.

What's ahead? OPIS Publisher Tom Kloza warned that the supply shortfall in the Northeast might not ease until February. "Refiners and traders are racing to get fuel to the market, but the system may not be comfortable for two weeks or more. Until then, look for price spikes and tremendous volatility," Kloza added.

With more wild price moves expected, OPIS has extended a free e-mail bulletin service that updates suppliers, marketers, and end-users on price swings nationwide. Sign up for free OPIS PRICE WATCH ALERTS at http://www.opisnet.com.

OPIS Energy Group analyzes oil prices and trends for the petroleum and transportation industries throughout North America. The company tracks wholesale and retail prices for gasoline and diesel fuel, crude oil, refined products, feedstocks, and LP-Gas. This year alone, more than 100 billion gallons of fuel will be purchased pegged to the OPIS Price Index.

======================================== Enc

Ray

-- Ray (ray@totacc.com), January 24, 2000.

Hey guys,

Snooze Button posted this last night--thanks Snoozie! So, once again...TB beat Drugde to the story! Good job.

Mutter,thank you very much for posting this. I know some people in here get touchy if there is a double post, but not everyone has time to read down through the list, plus while somebody is working up the post, somebody else could have already posted it. I know somebody who lurks in this forum, and he only reads the posts at the top since he's so busy.

I want to personally thank everyone who takes the time to research and post this kind of material. =)

-- Dee (T1Colt556@aol.com), January 24, 2000.

Dont see any inflation here. Nope! none at all!

The new paradigm must be working!!

cars,trucks,ships,plants,machinery,heating,chemicals,planes,equipment, electricity,

Naw just take oil out of C.P.I to get the real figure for inflation.

-- d.......... (dciic@aol.com), January 24, 2000.

To d - Canada includes food and energy prices in the COPI and last month it was 2.6% with oil in and 1.6% with it excluded making a whole 1% which would be fuel related as I don't see much other than fresh fruit & veggies going up.

Guess next month's COPI will look a little different. But our gas prices are not going up anywhere near what the eastern U.S.' are.

-- Laurane (familyties@rttinc.com), January 24, 2000.

[consumer] lives in NorthEast, SURELY this is all MY fault (hangs head in shame)........

-- consumer (shh@aol.com), January 24, 2000.

laurann,

Fruit and veggies?????

Everything runs on oil. It usually takes a couple months for companies to pass on the increases and those increases effect everything in our lives. Everything from panty hose to commuting to sneaker soles.

-- d........... (dciinc@aol.com), January 24, 2000.

--d: Your right, there's no inflation and the rising gas prices are not inflationary. Oil and food prices were taken out of the inflation scale under Clinton's Administration. I may be paying more at the pump and for goods and services, but this is not inflationary!!!! (tongue in cheek)

-- bardou (bardou@baloney.com), January 24, 2000.