The lowering oil prices have also helped to decrease the cost of retail gas. Since July crude has been moving lower, losing more that 1/3 of its value. A record of $150 was reached only two months ago. However, oil prices raised back to above $104 per barrel on Friday. The good news is that people are optimistic that the government's rescue plans will help with the credit crises affecting the United State's economy.
Sunday, September 21, 2008
Gas prices down 10 cents in 4 days
Gas prices rose 18 cents in the eight days after Hurricane Ike; however, prices declined 2 cents, making that the forth decline in a row since then. Since hurricanes Ike and Gustav gas prices have been moving higher. There have been more than thirty refineries (that convert crude oil to gasoline) have shut down or are only partially running in the Gulf since the storms. Also, Texas and Louisiana crude pipelines have been affected. Thankfully they have started to operate again and have been restoring supply of gas to retailers and lowering consumer prices.
The lowering oil prices have also helped to decrease the cost of retail gas. Since July crude has been moving lower, losing more that 1/3 of its value. A record of $150 was reached only two months ago. However, oil prices raised back to above $104 per barrel on Friday. The good news is that people are optimistic that the government's rescue plans will help with the credit crises affecting the United State's economy.
The lowering oil prices have also helped to decrease the cost of retail gas. Since July crude has been moving lower, losing more that 1/3 of its value. A record of $150 was reached only two months ago. However, oil prices raised back to above $104 per barrel on Friday. The good news is that people are optimistic that the government's rescue plans will help with the credit crises affecting the United State's economy.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment