My wife says she heard that one of the little towns near to us is down to $2.79 today. This is in the northwest suburbs of Atlanta Ga. I don't know how long this rapid slide down in price will continue before it stabilizes but it is already way past what the local pundits predicted for the end of this month and we still have plenty of month left.
The bright side of this is it should bring some, if not all, of the consumer goods price increases that have been blamed on high fuel costs back down too. I can live with that!!!!
All this really depends on the market, while it's a good thing the prices of gas have come down(for us consumers)...It's sort of a bad thing(for the market). It's just because the price of gas is down to last i looked 78 bux a barrel!
Sam Bortol wrote:
All this really depends on the market, while it's a good thing the prices of gas have come down(for us consumers)...It's sort of a bad thing(for the market). It's just because the price of gas is down to last i looked 78 bux a barrel!
I don't agree that it is bad for the market. So much of what we do and what we consume is dependant on oil that having the price come down will be an econonmic stimulus of far greater importance than the one the I R S gave the American people a little while back. And that will be a good thing for the rest of the market. The only ones to be really hurt are the oil futures buyers who got in too late and will take a hit. But what the heck, they are the ones who were driving the prices up anyway so I have little sympathy for them. As to the OPEC nations, I really don't give a rat's patootie if they have to give up one or two of their fleets of 747 planes and have to buy the $1000/Oz cavier instead of the $3000/Oz stuff.
