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Not unlike the growing popularity of hybrid cars, increasing gas prices are causing boating enthusiasts to think smart.
This year, as boat sales in general seems to have slowed, there has been a 50% growth in electric boat sales. The boats still utilize outboard motor oil, yet they provide relief at waterside gas stations, which generally charge more for gas than roadside gas stations, as there is little in the way of competition.
Once again, the prices of bulk oil have fallen, trading at $133.64 from nearly $140. Gas prices, however, remain around $4.11 per gallon. Though analysts suggest that the sporadic rise and fall of oil means that the previously mentioned breaking price of $150 per barrel will happen, the price jump has been a headache for many Americans, stifling traveling via plane or car; and even affecting the boating industry.
The price of bulk oil dropped today, even at the reports of Hurricane Bertha. The strengthening of the American dollar and the ease of a storm on the Gulf coast has caused oil to tumble down below $136.
Despite this, gas prices are remaining at $4.10 a gallon. Because of these prices there have been a lack of demand for gas, as many Americans have opted to stay home or limit their vacations this year.
As we inch closer to the 4th of July weekend, bulk oil prices are still increasing as supply and demand in the U.S. dwindle. With a weak economy and threat of war in the Middle East, oil and gas prices have been fluctuating for months.
Despite all of these issues, analysts are still claiming that gas and oil prices will slide once a peak (which at press time has been around $143 a barrel) has hit.
Gas thieves aren’t just a problem on land. With the high price of gasoline, they’re also striking on the water.
Police are saying that they are receiving reports of gas cans being stolen and gas being siphoned from boats left tied to the end of docks or on boat lifts.
They’re reminding boat owners to remove gas cans and outboard motor oil when they secure their boats for the night.
This weekend, it was announced that Saudi Arabia will increase oil output by an additional 200,000 barrels. This will make the daily total of bulk oil 9.7 barrels. The news caused a slight decrease in gas prices, though most analysts are saying that this will not cause a dramatic change in prices.
Despite this output, the White House is still championing an increase in U.S. supplies via off-shore drilling.
In two separate deals, Affinity Events added four boat or boat/RV consumer shows to its lineup, along with seven RV consumer shows, the company said in a press release yesterday. With the recent acquisitions, the company now produces 15 boat shows around the nation.
Three boat shows were acquired from MAC Events, LLC, based in Spring Lake, N.J. The Fall New Jersey Boat Show and New Jersey Boat Show are both held in Edison, N.J. The MAC Events Boat Show Richmond is held in Richmond, VA. Affinity Events plans to combine that show with one of its existing Richmond boat shows.
The company also acquired two boat shows from Mid-America Expositions, Inc., all produced in the Kansas City, Mo., area. The Fall RV & Boat Show is held in Kansas City, Kan., while the Mid-America Boat Show takes place in Kansas City, Mo.
The acquisitions give Affinity a total of 45 consumer shows, all acquired or launched over the past four years. The total audience of boating, RV, powersports and outdoor recreation enthusiasts who attend Affinity-run shows now exceeds 500,000; these events are also a coup for marine engine oil companies and other retail vendors.
The floods in Iowa this week could predicate rising gas prices, yet reports of a decline in gas sales have urged companies to finally keep their prices points low. In the second day of slippage, gas prices have shown that their prices have increased 36% versus a 94% increase in bulk oil. The discrepancy is hard to miss, but the demands for gasoline have been decreasing since January, with many people using alternative transportation such as busses, bikes and carpools.
The upcoming financial forecast for fuel suggests different outcomes. A potential strike in Nigeria, as well as the floods in the Midwest, could drive up the prices of gas, but as crude oil continues to fall, gas prices may as well.
Bulk oil once again hit a mood swing as it surged towards $140 a barrel, only to fall by day’s end. However, the average gas price has hit $4 a gallon, though some areas have been paying up to $4.45 a gallon for regular unleaded gas.
Oil also continues to decline based on the lack of consumption based on the current record break gas prices.
Last week, bulk oil prices fell away from the $130 mark and ended the week at $122. Now, oil prices are rising again to $123 a barrel. This comes at the heels of the dollar weakening against the Euro, as well as beginning of hurricane season. The changing oil prices has failed to slow the prices of gas, however, as it inches closer to an average of $4 a gallon, though most states are paying beyond that now.
Analysts predict that the $4 mark will be the peak and begin to drop as the summer progresses.