If gas prices were plummeting due to a decrease in demand that would justify pessimism. But my impression is that they are dropping due to increase in supply, which would make this article a farce. Am I wrong?
Petroleum is only one segment of a healthy economy. Countries (and terrorist groups) who rely entirely on the proceeds from oil sales stand the most to lose.
Of course the economy is tanking. But try to explain this to the idiots who brag about saving $2 on a tank of gas.
Any possibility that this is the trial balloon instead of the truth...
$1.29 in central IN today.
One problem with low gas prices. It will encourage stupid local governments to add even more taxes to gas.
The free market has ups and downs, subject to the whims of the marketplace.
Hong Kong is a little island state, previously British, now Chinese. They have no oil, mines, or timber. Yet they have a thriving economy. Why?
Anyone know about the U.S. dollar and the peril it is in?
Income not spent on gasoline should be available for something else. What besides obamacare is sucking up that money?
Now the Saudis have decided to crash the fracking revolution by crashing the price of oi to drive competitors out of business, just like they did last time around.
That is going to really hurt the only performing segment of our economy.
>> the [falling] price at the pump is having a negative impact on the economy
Total BS. The only idiots that suffer are those playing petroleum poker. I’ll take the $100 I save each month and spend it locally.
Now LOWER prices produce the SAME result?
I’m not buying into this. Lower fuel prices affect shipping, trucking, and airline costs. Also utilities pay less for natural gas. This in turn lowers the cost of fertilizers for the farming sector. The market will adjust itself accordingly. Enough doom and gloom.
I don’t care. Keep dropping. I think it is actually better for everyone to save some money driving for a change. Gas prices were very high fro 7 years and some made a ton of money over it. Use that savings to keep yourself going while gas is low. Plus it is still around 1.70 a gallon so we aren’t even near the 90 cents a gallon of the 90’s. So we have a way to go I hope.