Explain gas prices to me

[Peter Pirate 2]

I don't get it. Here in the Keys we're finally below 2 bucks and I hear the midwest is below 1.50 and we could possibly see sub 1.00 rates according to a gulf oil exec. What is going on. Certainly it's not just demand driven. Is it the wall st. speculation somehow? If so explain it to me. This is just bizarre. Certainly it can't be permanent can it?

 

[jas_mom1]

I was wondering the same thing when it cost me $41 to fill up my Suburban tonight. It was almost to the "low fuel" warning.

BTW, I love these low prices but I can't help thinking it won't last.

Dianne

 

[JonS99]

Bush White House did a nice job of getting prices under control...

 

[Peter Pirate 2]

LOL! I'd say what I think of that comment but I guess I'm not allowed to so I'll just say way to go "W" ...

 

[rascalmom]

OPEC adjusted production & flooded the market with supply.

It helps them keep control of the competition - lower prices make domestic exploration and production less viable. It also reduces the incentive to find energy alternatives and increase energy efficiency.

The low prices won't last forever - enjoy it while you can.