Friday, October 24, 2014

Gas Prices Dip

Elkridge, MD
October 23, 2014
I was amazed when I bought gas yesterday. Gas prices have fallen about $1 since summer. And they are still falling.

Road trip!

I really never thought I'd see sub $3 per gallon prices again.

Yay!

But, the analysts indicate that the lower prices may not be a long term good thing. 

According to a Washington Post article, low gas prices may signal that the world economy is much weaker than originally thought.

Secondly, lower gasoline prices may also damage the developing U.S. shale oil industry, which amazingly, may be responsible for employing over 2 million people. They call it tight oil and shale gas.

Wow!

For now, I'm looking forward to some extra spending money for the holiday season. My concern about the larger worldwide economic problems is definitely secondary to my personal checkbook. I wonder if gas prices will get into the low $2 range for Christmas? And that would be good for people who use fuel oil to heat their homes, too.

-- Bob Doan, Elkridge, MD
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