Breitling Oil and Gas Morning Podcast #39 March 13th, 2012

For Oil and gas today, here is Chris Faulkner with Breitling Oil and Gas: Why are gas prices so high, high gas prices are usually caused by high prices for crude oil which accounts for 55% of the price of gasoline. Distribution and Taxes influence remaining at 45%, usually distribution and taxes are stable so that daily change in the price of Gas directly reflects oil price fluctuations. In February concerns of potential military action by either Israel or even the US against Iran caused high oil prices. Second some Oil refineries in the US were closing, third oil and gas prices tend to rise every spring in the anticipation of increased demand during the summer drive-in vacation season. As a result Gas prices hit 3$ and 56 cents a gallon by mid February a full two weeks earlier than last year, that’s because Oil prices reach a 100$ a barrel at the same time.

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