The plunging price of oil -- a 50% drop off the cost of barrel of - TopicsExpress

The plunging price of oil -- a 50% drop off the cost of barrel of crude since April, is the main driver in the gas price slide. But there are many other factors also affecting prices. Weakening economies in Europe and Asia, as well as more fuel efficient vehicles worldwide, have all cut demand for gasoline. An increase in U.S. oil production, which made the nation the worlds largest source of crude earlier this summer, has also pushed prices down, as has OPECs refusal to cut production. Finally a strong dollar is also pushing prices lower. END RESULT - the price of gas has fallen for 89 consecutive days...

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