Can anyone tell me what caused gas prices to drop so precipitously over the last few months?
Prices of oil per barrel went down by a third six months ago. It just took the oil companies this long to be satisfied with their new record profits.
The gasoline storage tanks at the refineries are full. They need to clear it out.
Inelastic demand became elastic as deflation set in; global oil consumption has dropped sharply.
Gnomes of Zurich.
Depressed gnomes, I take it…
nah, just bored.
I was reading somewhere (of course I can’t remember where) that this always happens near election time. I’ve never noticed it before, though, so I take that with a grain of salt…
That had been my working theory, until gas prices continued to decline after the election…
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