Out here on the Left Coast, last weekend I saw non-Arco, non-indie gasoline at $1.99 for the 87, $2.07 for the mid-graade (89), and $2.17 for the Super (91).
So oil prices are going up, the Dow is going down, and I am actually SAVING money on my gas?
Interesting.
My theory is that it's the same as a supermarket sale...when you lower the prices, the consumer gets what it wants (more product), the producer gets what it wants (money), and everyone's happy.
However, my guess on the Fraudcast Lamescream Media's spin on this is:
---low gas prices, high oil prices = disaster for stock market.
---low oil prices, high gas prices = disaster for families and businesses, children can't eat...
I don't watch the FLM anymore, so I would not know.
You do realize, don't you, that there's a two month lag between movement in the price of crude and its reflection in the price at the pump? If so, I'm assuming you also realize that the current decline in gas prices is due to the slide of crude from $42 to $35 in June and that the current spike can be expected to show up at the pumps in late September and October..
Gasoline supply is hard to control.Once they refine it and put in pipeline storage becomes an issue.That is what drives prices down.Let this storm mess up Fla. for a week and take last minute driving vacations off the map and you will see a further drop.