The oil has really been coming down. The oil prices fell again Tuesday. That was the day before the government was to release its weekly crude inventory report. That report recently has shown in stark numbers how much Americans are cutting back on energy costs. Well, no kidding. You have to cut back on your driving or quit eating. You can't afford both.
Our little town gas stations have finally gotten down to $2.199 a gallon and in a bigger city just 20 miles from us, it is below $2 a gallon. Analysts say they expect the prices to continue falling, perhaps as low as $50 a barrel before they hit bottom. I sure hope they are right. Light, sweet crude for December delivery fell 49 cents to settle at $62.73 a barrel, the lowest closing price since May 15, 2007.
Subscribe to:
Post Comments (Atom)
Atom Feed (xml)
No comments:
Post a Comment