The interesting thing here is that gasoline prices are going down while oil prices per barrel are remaining relatively stable.
I like this combination because high oil prices encourage more drilling while low gasoline prices equal more money remains in the pockets of Americans.
Like everything this phenomenon is not likely to last very long.
Well we’ll see. Judging by your second chart, gasoline prices are about at their two year low. If they break below that, then there’s some real stuff going on.
Too bad this inadvertently reflects well on Obama. Its all happening despite his best efforts to kill the oil/gas industry.