Gas Prices Drop For Nevis
It’s no suprise that the demand for oil has never been so high!
It has been a huge topic of concern all over the globe! As the U.S. has been lucky enough to see a significant drop in gas prices, so has Nevis Island and St. Kitts.
Lucky for us they are still continuing to fall!…
The price of gasoline, which went below the $10 mark per gallon at one distributor, last week, dropped a further $1.73 cents. This is one of the latest in Nevis News and Caribbean Life is seeing better days.
Zimbio.com overs a liitle inside on this issue:
The Ministry of Finance announced Tuesday that with effect from Wednesday 10th December, the cost per gallon at Shell gas stations will decrease from $9.96 cents per gallon to $8.23 cents a gallon, a drop of $1.73 cents, that’s down $8.02 cents since July 16th.
Delta Service Stations, which saw a high of EC$18.59 per gallon on June 27th and which has seen a steady decrease is being sold at EC$12.50, per gallon.
Texaco Service Stations, which saw a high EC$16.56 on July 22nd has also seen a steady decline is being sold at the maximum retail price was EC$12.24 a gallon.
Gas Prices have been a huge concern to many and I have wondered exactly why for a while now. So WHY ARE GAS PRICES SUCH A BIG DEAL ANYWAY? Buzzle.com gave me my answer:
One of the main catalysts for the incessant rise in gas prices has been one of the most fundamental economic reasons – the juggling that takes place between demand and supply. Indeed, the demand for oil has never been as high as it is these days. And one of the main reasons for this is the continuing rapid economic growth of China and India, the two largest economies of the developing world. With a population of over a billion in each of these countries, along with an annual growth rate of 9 percent in China and 7 percent in India, both consumers and manufactures are guzzling up energy at incessantly increasing rates.
Plus, there are no signs of any flagging of demand from the industrialized countries either. In the United States, for instance, people still continue using large vehicles like SUVs, which consume enormous amounts of gas. While the United States is continuing to grow economically, Europe too is catching up. Which implies that there will be even further demand for oil. According to some projections, by the next 25 years, the demand for oil is set to go up to as much as 140 million barrels per day.
Some of the Middle East countries, a region where considerable amounts of oil reserves are located, have also become booming economies, and hence the governments there are rethinking the manner in which they have been handling oil supplies.
As a result, the traditional pattern of the countries of the Middle East being the suppliers of oil and the countries in the West being the consumers has altered. Thereby adding another element to the equation of supply and demand, which determines the prices of gas and oil.
Read the rest of this article, HERE, if interested!
Just here to help 
Becca Briley ~ I love Nevis West Indies
