Yesterday, I filled my tank with unleaded regular from a national brand gas station. I paid $2.45 a gallon!! That's $1.90 less per gallon than I paid at the height of the sky-hi gas price craze!
Today, the crude oil futures closed at $63.22 a barrel which is over 50% off the high of $145.00+ per barrel during the summer. OPEC even announced it was reducing production due to less gasoline and diesel consumption worldwide. This normally would cause a rise in future speculation and result in a spike in oil prices.
The market didn't even flinch.
The news tells us that Americans are driving less trying to conserve fuel. I'm even driving less, BUT....I know I'm not driving 40% less, and I KNOW I'm not seeing 40% fewer cars on the roads.
Could it be that BIG OIL finally got the message and decided they'd made enough obscene profit from all of us, and set the price to something reasonable that we're more willing to pay?
Maybe the ball is in our court this time.
Today, the crude oil futures closed at $63.22 a barrel which is over 50% off the high of $145.00+ per barrel during the summer. OPEC even announced it was reducing production due to less gasoline and diesel consumption worldwide. This normally would cause a rise in future speculation and result in a spike in oil prices.
The market didn't even flinch.
The news tells us that Americans are driving less trying to conserve fuel. I'm even driving less, BUT....I know I'm not driving 40% less, and I KNOW I'm not seeing 40% fewer cars on the roads.
Could it be that BIG OIL finally got the message and decided they'd made enough obscene profit from all of us, and set the price to something reasonable that we're more willing to pay?
Maybe the ball is in our court this time.
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