Significant Oil Price Increase is needed to Affect Hotel Demand Says Starwood Chief Executive

Frits Van Paasschen, Starwood Hotels & Resorts’ worldwide chief executive, said that there has to be a significant rise in oil prices compared to its present levels in order to affect hotel demand. The CEO said that the present rise in oil prices shows that the United States and the global economy is obtaining speed, a generally promising factor for hotels. In particular,...
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Reason Why Gasoline and Crude Prices do not always Move in the Same Direction

Gasoline price has not always been in accord with crude oil price. This is one of the reasons why many motorists are frustrated in spending for high gasoline prices when crude oil price falls or stays the same. It may seem that the costs of both must closely coincide with each other since gasoline comes from crude oil. But, even if their markets are related, they are separate and do not go in...
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Reasons Why US Gasoline Prices Vary in Different States

Prices of retail gasoline have sharply increased this present year as crude oil price reached its record breaking high levels. And as many American consumers are feeling the effect of high gasoline prices, they are also seeing varying prices in different places all over the United States. For example, drivers in Colorado are paying just above $3, compared Californian drivers who are spending...
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Pipeline Crash in Southwest Suburbs may Push Crude Prices Higher

A recent crash in the southwest suburbs killed two men and led to the shutting down of a main pipeline that can affect crude oil prices. The crash occurred in an unincorporated location close to New Lenox. According to the police, two cars were driving alongside each other when they hit a chain-connected fence and damaged a pipeline of crude oil. The collision resulted to the burning of the...
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