Oil Prices and Whirlpool

Last week, in the post Appliance Prices are going Up, we speculated that the rise of appliance prices was in part due to the rising oil prices. This article confirms those suspisions.

“Even with the U.S. housing market cooling, Whirlpool executives recently announced price increases in North America of 6 percent to 12 percent to cover a $150 million jump in costs. The company wouldn’t break out fuel costs for competitive reasons, but spokesman Christopher Wyse said Whirlpool had hefty transport costs and uses plastics, paint, resins, hoses and other goods derived from oil.”

I suppose that it is time for service prices to go up as well. About this time last year, I could gas my van up for 69 cents per liter. Now, I am happy to find $1.09 per liter. I usually fill the tank twice a week, which means that I am spending $80.00 more a week to do the same work. Yep, that confirms it – service prices will be going up.