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Chart Showing How Much It Costs to Transport Oil in the U.S.
When you fill up at the pump, part of that cost you’re paying is for the transportation of the fuel to get there. Continue reading →
What A Gasoline Receipt Should Look Like
An unethical practice happens every time you go purchase gasoline for your vehicle:
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Inflation Alert: Consumer Prices Edging Up
Prices on goods and services have hit 4 months in a row
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Oil Rig Production Continues Plunge
Oil rig production continues its plunge and gas prices are starting to show that. Here is the latest data on oil rigs:
The number of active U.S. land rigs plunged by 98 this week in one of the biggest declines in the past three decades as fallen oil prices continued to pummel the industry’s drilling ambitions.
Baker Hughes’ 71-year-old U.S. rig count, one of the industry’s go-to indicators of future oil production and demand for rigs, was down by 406 drilling units compared to Feb. 13, 2014. The last time the rig count fell by 98 was in January, 2009 – the two declines are tied for the biggest drops since 1987.
H/T Fuel Fix
Percent of Fuel Cost in Your Grocery Store Bill
With fuel prices dropping over the last several months, many shoppers are asking why food prices have not shown corresponding drops in prices. The asnwer may surprise you in how much fuel costs affect grocery store bills.
Annemarie Kuhns with the Agriculture Department’s Economic Research Service is reporting that only 4.7 cents of every dollar spent at the supermarket goes toward food transportation costs
So less than 5% of your bill is attributed to fuel costs.
Hoosier Econ 