With the recent slump in oil prices I believe that some relief is coming. I do not know if it will be enough to pull some people back out of debt. I do hope people keep asking for alternate sources or fuel or alternate fuel vehicles. We can not go through this again next year.
Finally oil prices are coming down. It certainly took awhile for consumers to get smart. I hope that this will also make food prices decrease as well since transportation of goods will be cheaper now.
International Level: International Guru / Political Participation: 3231 100%
Nice to see the price drop but I would not get high hopes on much of a drop on the pumps. These companies seen some very high profits this year and I am sure the share holder could get real used to them. I also think by next year the prices will be higher then they are right now.
International Level: Senior Politician / Political Participation: 188 18.8%
I don't think the consumers had anything to do with the price of oil dropping, other than being forced to drive less or buy a more economical vehicle may have been the marker for "supply and demand" rules to kick in - less demand, the price drops.
Are the "powers that be" testing our limits? Are they gauging how far the price can go up without losing profits for themselves in the long run? This is hardly the end of it, but at least for now we have a small respite from the nearly $5 gallon of gas. I doubt other prices will go down anytime soon, because it takes time for changes to "trickle down" through the economy.
International Level: Ambassador / Political Participation: 595 59.5%
Yes the cost for food jumped immediately and rightly so for trucking as it is one tank one run. But will the stores or manufactures reduce the price we have gotten used to paying or just let it ride with maybe a slight drop.
International Level: Senior Politician / Political Participation: 188 18.8%
Oil Drops Below $100
NEW YORK - Crude oil on the futures market briefly sank below the $100 a barrel Friday for the first time in five months - suggesting investors believe a worsening global economy will continue to drive down demand for some time in the United States and elsewhere.
Ref. USAToday