My guess is that it probably won't get much lower. I could certainly be wrong though. I wouldn't bet the ranch either way.
It is true it is only saving a few dollars. whatever the gas prices are, it will never keep us from being on the roads. It is good to see the prices drop. Is does give me hope in this economy. If only we could get those prices back to 98 cents a gallon like it was in the 90's. Now that would be impressive.
JR wrote, "The Saudis are responsible for cheaper gas - not Obama". Remember to make those same comments when gasoline prices skyrocket once more!
I have only recently became aware of the possibility Russia may dump oil onto the markets. They need money to completely annex the Ukraine. That would be our gain. Yet, I wonder how long a period that would last? Could they afford to dump oil onto the market for a few years? That would make me happy.
I've never blamed him or anyone else in the White House or any US presidential admin for the price of oil being high or low. Of course gasoline taxes can affect the prices at the pump.
In England I've seen Petrol down to £1.169 per litre and Diesel down to £1.209. The lowest in quite some time. It peaked at £1.499 for diesel in late spring, so this is some nice relief, especially considering how much driving I do.
I have been enjoying these low gas prices for sure, but I wonder how long they will really last. I have no doubt that the prices will go back up again when the weather warms up and we all venture out.
It's quite interesting to see how the markets are reacting to all this. While I was invested in oil before all this, I fortunately got out without getting too much of my head shaved off in the process. Previously, I was just collecting dividends in oil & gas companies, but now I'm leaning on the Airlines. Should be a fun couple of months regardless of what happens.
This is very true, in fact it seems the true agenda may have already come out, It seems to be about fracking and the desire by the US to devise its own energy methods. WSJ reported last month that the keystone pipeline was already in the works for 2016. Seems everyone is just waiting for Enbridge to come in with the right proposal. In the short term lower gas prices will stimulate the economy, people will feel better about buying things and traveling again. It will help immensely in offsetting the increase in food prices. I agree it is not very likely this will last long term as the funds needed for our aging infra structure have to come from somewhere. maybe if we are lucky it will last thru the winter,
