Price of fuel at the pump reaching for the skies
A mere ten days ago on April third, the prices of fuel hit the roofs. And if you felt the pain in your wallet, well, we can tell you that the new prices will be even more merciless. Another fuel hike is in the works at midnight tonight which will put the price of premium above the twelve dollar mark and at its highest yet. Word to our newsroom is that premium will face a whopping increase of sixty-four cents and consumers will now be paying twelve dollars and thirteen cents per gallon. You heard right, the price to full up your tank at the pumps is going up significantly and if you rely on premium, it will be retailing at twelve dollars and thirteen cents per gallon in the next few hours. According to our research, even when the barrel of crude stood at one hundred and forty dollars on the international market, premium was selling at eleven dollars and seventeen cents, almost a dollar per gallon less than it will be at midnight. When we checked today, the price for crude is hovering at one hundred and five dollars, which means that we are paying more at the pumps even though crude is far cheaper. But how high can they go? We do not know the answer to that question but can warn you that regular, will go up by fifty cents, which will put the gallon price at eleven dollars and sixty-seven cents. Diesel will be going up by fifty-five cents to a high of ten dollars and ninety-seven cents and in the case of kerosene, that’s goes up fifty cents, and will be retailing at eight dollars and seventy-seven cents. So if you are planning your Easter holidays you might want to re-work your numbers because transportation and other costs might change your budget significantly.