But nobody knows why. They claim they do. One guy claims it is because of Fracking in the US. Another gal claims it is because of Saudi Arabia output is so high. Other people blame a lack of consumption. I believe it maybe because the speculators have unleash a flood of cheap oil from tanker storage. That does not change the fact that we are all guessing. This leads to some really confused reporting.
GAS PRICES: Inland pumps average $2.71 a gallon
The eight days of Hanukkah. The Twelve Days of Christmas. So why not the weeks and weeks of plummeting fuel prices?
Again proving to be a gift with seemingly no end in sight, the average price of regular gasoline nationwide dropped an additional 25 cents a gallon in the past two weeks, to $2.39. That’s the lowest it’s been in more than five years.
And, just in time for the year-end travel boom, industry analyst Trilby Lundberg said prices will likely keep falling into the new year. Lower crude oil prices are driving prices down, along with an abundant oil supply and the rising value of the U.S. dollar, Lundberg said. The Consumer Comfort, Consumer Sentiment and Consumer Confidence indices were all at their highest levels since 2007, according to the American Automobile Association, which said the consistent decline in prices is the longest the organization has ever tracked.
Go there and read. More next week.