Middle East Conflict Causing Higher Fuel Prices in Florida

first_imgSundaySaturdayWeek AgoMonth AgoOne Year Ago2019 High(YTD)2018 HighRecord High AAA GAS PRICE AVERAGES(Price per gallon of regular unleaded gasoline) Click here to view current gasoline price averages TAMPA, Florida — Drivers could see gas prices rise as tensions grow in the Middle East. The situation has already led to higher crude oil prices, which typically raises the cost of producing gasoline.Florida gas prices climbed an average of 7 cents per gallon in the past three days. That increase was set into motion before the US airstrikes last week, by crude price hikes that occurred in December.Once news broke that the US carried out attacks on Iran, crude prices surged nearly $2 per barrel on Friday. An increase of that magnitude can directly trigger a 5 cent hike at the pump. The US benchmark for crude (WTI) eventually settled at $63.05 per barrel – the highest daily settlement since May 2019. It’s worth reporting that some of this increase was influenced by another week of lower US crude inventories, but the situation in the Middle East was the top story.“What happens in the Middle East can have a direct impact on Americans’ daily lives, by influencing what they pay at the pump,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Many people don’t realize that half of what they pay for every gallon of gasoline is determined by the price of oil. Even though the US is producing oil at a record pace, that oil is bought an sold on the stock market, which is heavily influenced by global supply and demand. Crude prices rise when there’s a threat of war, because of concerns over how the conflict could hamper supply and demand.“It’s still far too early to know how much of an impact this conflict will have overall on prices at the pump,” Jenkins continued. “We’ll likely have a better idea early this week. Some analysts are anticipating a ‘Manic Monday’ on the stock market, with many financial and physical traders returning from vacation. Either way, volatility should be expected with both oil and gasoline through January, at the very least. If geopolitical tensions continue to escalate, crude prices may rise and drag gasoline along for the ride.”Florida drivers are currently paying the highest prices for gasoline since early December. The state average of $2.53 is 30 cents per gallon more than this time last year. The reason for this disparity can be found in the price of oil, which is currently $20 per barrel more than it was in January 2019.As a result, gas prices are off to their most expensive start to a new year since 2014.Regional PricesMost expensive metro markets – West Palm Beach-Boca Raton ($2.63), Pensacola ($2.56), Port St. Lucie ($2.56)Least expensive metro markets – Jacksonville ($2.49), Orlando ($2.50), Fort Myers-Cape Coral ($2.50)Find Florida Gas PricesDaily gas price averages can be found at Gasprices.aaa.comState and metro averages can be found here Florida$2.526$2.521$2.459$2.533$2.132$2.795$2.92 (5/25/2018)$4.08   (7/17/2008) Georgia$2.463$2.459$2.423$2.437$2.059$2.735$2.84 (5/27/2018)$4.16   (9/15/2008) National$2.585$2.585$2.578$2.595$2.245$2.895$2.97 (5/26/2018)$4.11   (7/17/2008)last_img read more

Is there too much data for marketeers?

first_img A survey of senior marketers has revealed that the over whelming majority (96%) find improving data analysis processes a significant challenge. This is despite devoting an average of five hours and 36 minutes a week to the cause.Steve McNicholas, Call CreditA Data Dilemma study of 151 UK senior marketers in August last year, also found that 80% believe they need to make significant inroads with data analytics and tools within the next two years to avoid falling behind competitors or losing out financially. This study was commissioned by Callcredit Information Group.Steve McNicholas, Managing Director, Marketing Solutions, Callcredit Information Group, commented: “While marketers are prioritising the management of data, there is an overriding feeling that it should be delivering better business outcomes for them. At the same time, they know there’s a wealth of untapped opportunity to use data to extract more value but a lack of resource, and in some cases, expertise, is preventing them from unleashing it.“The urgency to improve data analytics processes can be hard to reconcile given the high number of other priorities marketers are required to juggle on a daily basis. As a result, some are turning to off-the-shelf software packages, such as Excel, to keep things ticking along. The danger is that the early-movers, who have already invested in more robust data strategies, will over-take. Marketers must decide whether this is a price they are willing to pay.”So what is it that gets in the way of improving data analysis? The causes were noted as a lack of budget (35%), time-to-value expectations (32%), a lack of human resources (31%) and underperforming data quality tools (30%). This wasn’t all and there were a number of other circumstances hindering progress such as imperfect data; with only 36% stating that they are extremely satisfied with the data they have access to.71% meanwhile said that they feel overwhelmed rather than empowered by the data available, with 69% saying that they feel such data has distracted them from core marketing duties. Only a third said that they see themselves as ‘extremely effective’ at using the data available to understand their customers’ needs.In response to these challenges, marketers are investing in data tools in an attempt to improve the status quo. 73% make use of web analytics and tracking tools and 67% utilise Excel and modelling packages to meet their goals. Equotion announces funding round success and Graham Martin as Chairman July 4, 2016 Bet Buddy – How responsible gaming measures can be brand enhancing November 5, 2015 StumbleUpon Callcredit appoints Chris Green as CCO January 12, 2016 Share Share Submit Related Articleslast_img read more