Why are gas prices currently dropping?
For many years, as the summer approaches and folks want to travel on vacation, gas prices have risen (seemingly due to a captive audience.)
This year, as the customary travel season approaches, gas prices are falling instead.
So, what's up with that?
I guess that depends on which part of the world you live in. Prices are skyrocketing in India.
There are mainy factors that move the price of energy. In the US it is largely because there are serious concerns about another recession along with substantial economic risk out of Europe. The recent data has been well below average. Slower growth means less consumption. Additonally the weakening of the Euro currency has meant strength in the US dollar. Oil is priced in dollars. Dollar strength means lower oil and commodity prices.
But I would think that a marketplace of fear would enable them to raise prices, as people would be afraid to argue
Its really not a conspiracy as many would like to portray it.But the currency plays a huge role.Prices of all commodities like food for example are higher as a result of a weaker dollar. Its only recently thatthe US$ has gained steam due to EU crisis
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