Oil Slightly Less Ridiculously Priced
2008 December 18
This morning oil prices dropped significantly, bringing them to a five year low at under $40 a barrel. Over the summer gasoline prices peaked when customers were paying $4.11 to get a gallon of gas. The market is so saturated at this point, that oil companies are paying customers $4.11 to take a gallon of gas.
While OPEC and the big oil companies are worried about these low prices and excessive stockpiles, the average working man will be glad to know that a gallon of gas is only going to get cheaper due to the poor economy. Of course, he’ll also be depressed to know that he’ll be missing out on all the really cheap gas due to the poor economy when he loses his job.
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