Originally Posted by Donger
Gasoline is "cheap" right now because crude is relatively low. ($94.35/barrel).
Crude has been dropping for a number of reasons:
1) Very strong supply, especially because of our increased domestic production
2) Things are cooling down in the Middle East (Syria, Iran and Egypt).
3) Weak demand. We are still using ~4% less gasoline than we were a few years ago.
Interesting. We produce more oil...and prices go down. Imagine that...
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