Tuesday, 15 August 2006
Gas Prices Tumble
« Davis Pulls Ahead of Lucas | Main | MoveOn.org Goes to Bat for Yarmuth »The end of the Israeli/Lebanon war, the good weather in the gulf, and the good news about the pipe lines in Alaska have caused pressures on oil prices to ease. Both the futures market and the oil exchange have reflected this good fortune causing wholesale gas prices to drop 30 cents over the last week.
But we can't have good economic news without dire predictions on future economic hardships while we have a Republican president. Thus the second half of the Courier article talks about how the "respite is likely short lived" and lists all of the possible "disasters" that could once again spike gas prices.
Personally, I think gas prices have been over inflated for some time now. My guess is we are beginning to see the long awaited market correction. Unless multiple disasters occur, I think we have seen the cap on gas prices. But that is way too optimistic for the Courier!
