Thread: Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab
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Old 11-10-2013, 01:14 PM   #4231
DaneMcCloud DaneMcCloud is offline
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Quote:
Originally Posted by Donger View Post
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.
I've also read it's because U.S. oil production is way up, which is also giving the US leverage in Iran.
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