Global Oil Price Hits Record $139 a Barrel

Philippines
June 7, 2008 8:09pm CST
I was reading the local newspaper a while ago and came across with the headline above. Global oil price hit another record at $139 a barrel last Friday and may even top as $150 by July 4 according to an investment bank. Definitely, prices of every commodities are again affected with this price increase and the masses are the ones that are hit by this unending oil price increases. Now, what moves do you do o minimize the effect of these price increases in your life?
3 people like this
14 responses
• United States
8 Jun 08
I'm actually seeing gas prices zooming up towards $5 pretty easily. Prices are increasing at least ten cents a day where I live. I have started to ride my bike whenever possible. Problem is that I have some health problems and I have to make sure I don't overexercise or it can make it worse. I've been thinking of taking public transportation more, but the price of that is going up, too. It always costs more to take public transportation than it does to drive my car.
• Philippines
8 Jun 08
hi desertdarlene, yes prices of gas will be zooming too as an effect of the oil price increase. Too bad for everyone. We are all affected by this. And too bad also for you if public transport is more expensive than to drive your own car. So you have no better alternative for your transportation then since using a bike might overexercise you.
@polachicago (18716)
• United States
8 Jun 08
I just stopped driving around. I have to think twice now before I take my car keys. I minimized my driving to same spending I used to have one year ago. So far, I am not happy about like most of us.
• India
8 Jun 08
I have one more idea for you buy one bicycle and use it every day for shortter distance, it saves your money and i will help in your helth also, so try it once and drive as much as you can with out any cost it is free.
1 person likes this
@polachicago (18716)
• United States
8 Jun 08
I don't have to buy it, I have it. Most distances are over 10 mils from me....long bicycling.... The closest grocery store is about 3 mils away...., hard to bring grocery home.... other than this, yes, I do bicycle a lot...
• Philippines
9 Jun 08
So I guess then you just minimize your drive to the grocery store then. Maybe, plan and assess your needs and buy groceries good for two weeks instead of a week. In that way, you could still save gas even just a little. Then just use your bicycle for short distance trips.
@snowy22315 (182196)
• United States
8 Jun 08
I am not driving as much as in the past. We used to take alot of trips on the weekends. We have not been doing that as much. There's really not much you can do,but try to live as fuel effciently as possible. I aslo get gas at Costco where it is cheaper.
• Philippines
8 Jun 08
yup, maybe lessen your trips to supermarkets also to save on gas. Instead of going there once a week, maybe you could just buy your groceries good for two weeks so you just need to go to supermarket every other week. plan a carpool in your neighborhood is also an option. just be practical nowadays.
• India
8 Jun 08
I effects every one every where, becouse this price hike every thing more castier , i know how i am managing my family , it is very bad for me and it create alots of problem for me.
• Philippines
8 Jun 08
hi cool_kkin, the soar of oil prices really affects everyone. all we got to do now is to manage our spendings and maybe cut on some items that we do not really need. And also, conserve energy to lower our cost of utilities. we have pretty hard time these days!
@wayne001 (86)
• United States
8 Jun 08
move to NY. Sell my car and take public transportation.
• United States
8 Jun 08
yeah...move to ny where your average rent for a efficiency apartment can be up to 800 a month or more. im not exaggerating. NY is expensive with its cost of living and over taxing. i just got out of there...believe me...don't move there. it will be the worst mistake you ever make.
• United States
8 Jun 08
We drive far less than we otherwise would. We combine tasks to help make each outing more efficient. We walk when it's a reasonable choice.
• Philippines
9 Jun 08
That's a better way of saving on your gas LovesTravel. And a better way to keep some money to your pocket. Have a great day!
@venshida (4836)
• United States
8 Jun 08
I saw that on the news also, I am planning on taking public transportation from next week. It's going to mean adding an extra 30 mins to my long commute, but I cannot afford it anymore. I am concern we might hit the $5.00 rate very soon.
• India
8 Jun 08
I have one good idea fro you , buy one bicycle and drive it as much as you can , it saves your lots of money and spend little more time but it is good for your health and money too. I am start doing this thing now a days
@wisedragon (2325)
• Philippines
9 Jun 08
It's insane. I hope we as a people learn our lesson that it is time to shift to alternative energy. It is inevitable that the world's oil wells will eventually dry up.
@exinco (214)
• Malaysia
8 Jun 08
so everyone now back to flinstone
@twallace (2675)
• United States
8 Jun 08
Stop driving and take public transportation. That's if you live in a city where you have public transportation. Then for those that live in towns that you have to drive; they will have to work something out. Gas is not going down anytime soon. No matter what the people say it will continue to go up. I thought that they were working on other means of fuel but they have not been put out for the public on a high scale. I know that the price of fuel will keep going up for a while. Right now $4.00 a gallon and so it will up to $5.00.
• United States
8 Jun 08
i think responsible financial planning is the key here. if you want to buy something you really need to thing twice about doing so. especially if its something you really don't need. also when you go to the grocery store, i feel its perfectly acceptable to buy off brand items which much of the time are not only cheaper but if you have the store cards you may even be able to save even more on the same products. the first think i did moving to my new location is apply for the discount card at my local grocery store. also if you travel alot you might think about using your car less and walk to places that are within walking distance and saving on gas. and if you need to fill up then use the cheapest price possible if your car will accept it. one think i like is the hybrid cars. you might think about trading your current car in and getting one because you can save a crap load of money on gas. A friend of mine bought a Toyota Prius. this sucker gets 50 miles to the gallon and you can go even further than that because it also can run off its battery without using the engine. and it recharges itself when you do use the engine. the great thing is that the battery takes a very short time to charge as you drive and you can switch back and forth as you need to. hes had it two months and hes only had to refill the tank twice and topped it off once just to top it off. if he was spending at least 160 a month on gas with his other car, so in two months he spent 340 bucks at the current price here for his gas. with the prius, with the same conditions hes only spent about 100 on gas in the same period of time. it may mean another car payment but its well worth it and that will be my first car. i don't care if it costs more because its new...its cost effective and thats all i care about. Also i would invest in energy saver bulbs and install them in all of your rooms. that will help your electric bill go down by a bit.
@chennai_b02 (1735)
• India
8 Jun 08
One of the Global research Team, has been intimated that the Crude oil price will hit $100 +, when the Crude oil price was in the market around $33.00. The same research Global Team, has published the notice that soon the Same Crude oil price may hit $200+ in the coming years.. So, please be aware of that, and try to convert your thinks what ever is needed the petroleum products like Bike, Car, Cooking Gas,... etc.. you can look for the alternates, and find the sources for the same, that may be the better idea, to come out from this type of petroleum products price increases.. to afford..
• Poland
8 Jun 08
Better buy yourself a good bicycle, I tell you! This prize won't get lower fast. Not before new energy source development. Maybe cold fusion will work? I hope so...
• Philippines
9 Jun 08
This is quite alarming since it would definitely affect everyone. From oil exporting companies, to the trasportation industry, down to the ordinary day citizen of any country, everyone will suffer. So in order to minimize the impact of the relentless increase in oil prices in our lives, i guess it would be more helpful if people would be efficient in doing their tasks and be more practical nowadays. If our destination is just of walking-distance, then why bother driving our car and waste a few dollars worth of precious fuel when in fact we could just simply walk? And if you are buying your groceries every week, then perhaps it would be more fuel efficient if you would buy a month worth of groceries in just one trip to the store. In that way, you can save gas and at the same time you can save dollars in your wallets.