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To: ChicagoConservative27

Gas is down 10 cents a gallon over the past week or two in my area so someone is doing something.


46 posted on 11/23/2021 12:49:39 PM PST by DoodleDawg
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To: DoodleDawg
Gas is down 10 cents a gallon over the past week or two in my area so someone is doing something.

IMHO it's mainly about the value of the dollar increasing lately (the Fed tapering the "not QE" they've been doing for years). I'm not saying the dollar hasn't been yuugely devalued. I'm saying it's going back up some lately. That puts downward price pressure on everything on the market, most notably oil and gas. All my life the price of oil and gas are the things on the market that change fastest whenever the value of the dollar changes.

Look at the DXY index showing the dollar value relative to other currencies at https://www.cnbc.com/quotes/.DXY and choose the 1M option to look at it go up the past week. Then do the same with https://www.cnbc.com/quotes/USO to see the value of an ETF that tracks (somewhat) the price of oil (I say "somewhat" because option activity can sometimes monkey with the price of USO).

72 posted on 11/23/2021 1:21:54 PM PST by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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