Escalating Fuel Costs

Have you ever wondered why the price of filling your gas tank seems to skyrocket overnight? It’s a frustrating situation that many of us can relate to, it’s very difficult to comprehend and accept. It’s past time governments delved a bit deeper into this issue and explore options to resolve it.
One of the primary causes of these unexpected price increases at the fuel pump is some fictitious relationship between crude oil prices in the Middle East on a Monday and the retail price of gasoline at the fuel pump in a small country town on a Tuesday.
When the price of crude oil rises overseas, retailers appear to jump at the opportunity to raise their local fuel pump prices immediately, which is simply absurd. A rise in crude oil prices today will have no impact on local fuel pump prices for at least a month.
It’s no surprise that many people question the fairness of this system. To address this issue, our governments need to step in and prevent retailers from taking advantage of customers like this.
We need a more equitable and transparent fuel market and by putting regulations in place this will ensure a more gradual adjustment of fuel prices.
Getting in control of the cost of fossil fuels would be great but the underlying issue is our heavy reliance on crude oil as the primary source of fuel production. Until we find multiple viable substitutes for crude oil, we will continue to face the bullying tactics of profit-driven fuel companies.
The impact of ever increasing crude oil prices goes far beyond the cost per litre of fuel of fuel at the pump too. Crude oil prices affect energy costs, transportation expenses, shipping fees, rail fares, air travel, agriculture and supermarket food costs.
These increases have a negative ripple effect throughout the economy, making it even more crucial to find alternative solution for fossil fuels.
Bio-fuels are a step in the right direction and by our major fuel companies investing in research and development, we can find more sustainable ways to produce bio-fuels that cost-effective, environmentally friendly and future proof.
We don’t produce anywhere near enough bio-fuels at the moment and this situation needs to be addressed globally.
Exploring more productive and eco-friendly options for creating bio-diesel can help diversify our fuel sources and reduce our dependence on traditional petrol.
The inexplicable, ‘all of a sudden’ increases in the cost of fossil fuels at the pump are a complex issue that requires major attention.
Government intervention and incentives for the development of alternative fuel sources are essential to create a fair and sustainable energy market and reduce the costs of business, reduce the cost of living and significantly reduce the amount of carbon monoxide and diesel particulate being pumped into our environment every day.

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