Friday, October 17, 2008

Oil Price Changing Short-term Outlook for Hawaii

This post also relates to here, so I am cross posting it here. From:

"...Oil was at it's all time high price per barrel this past July 11, 2008, at $147/barrel, when gas prices in much of Hawaii were about $5/gallon. The state was in real trouble at that point. Now with presumed deflationary events in the wider economy and credit markets, most consumable commodities have come down 30 to 50% in the past 3 months. Oil is at $71/barrel as of today, Oct. 17, 2008, and gasoline in Hawaii is below $4.00/gallon even on the outer islands.

Also of interest and importance, jet fuel is down 48% from its high in July 2008, now equal to the price that it was at in early Sept. 2007, when things started to go south. Marine diesel fuel (MDO) is down 30% from its high in July 2008. Other noteable commodities, such as steel and aluminium, are also off their highs."

See rest of the above post here, and related link here.
Aloha, Brad

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