If the gas stations around here we're selling regular gasoline for under $2.20 a gallon these days (when it was over $3 not too long ago), this article from MSN would seem even more ridiculous that it is. So perhaps MSN is right, and gas prices drop to about $1.15 a gallon again. MSN says it's not a fantasy. Here's why:
First, the price drop won't happen soon, maybe in a couple years' time. Second, with all the recent pressure from high oil prices, all sorts of new oil supplies are being explored and "more supply is on its way". Third, drivers are changing their habits, which means demand will be (slightly) lower.
All this means a drop in the price of oil is coming, MSN says. Indeed, oil was costing about $63 dollars a barrel last week, down from over $77 in July. One energy consultant told MSN that oil could cost as little at $15 a barrel in the future. Unlikely? I think so, but we will have to wait and see. What would you do with the return of cheap gas?
[MSN]
First, the price drop won't happen soon, maybe in a couple years' time. Second, with all the recent pressure from high oil prices, all sorts of new oil supplies are being explored and "more supply is on its way". Third, drivers are changing their habits, which means demand will be (slightly) lower.
All this means a drop in the price of oil is coming, MSN says. Indeed, oil was costing about $63 dollars a barrel last week, down from over $77 in July. One energy consultant told MSN that oil could cost as little at $15 a barrel in the future. Unlikely? I think so, but we will have to wait and see. What would you do with the return of cheap gas?
[MSN]
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