After 86 consecutive days gas prices are starting to increase once again. Over the past two months there has been a 57% drop in oil prices. All but 2 states now have average gas price below $2. Since the prices have dropped so much demand has increased for gasoline and it is feared that gas prices have bottomed out.
Hopefully, the cheap prices continue through the summer, but it is not likely.
2 comments:
I think gas prices have already started to bottom out; price for gas at UDF is not back up to $1.69, not that that is expensive, but it does signal that prices are going back up again.
Well I think OPEC countries are starting to slow down their production of oil and leaving more for the future when prices goes up agian. Funny how just a few months back Oil prices are the number one worry for everybody and making the top head line, and now that the demand for it is gone , the prices tanked, and its the financial market that's in crises now.
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