Good News at the Pump, Gas Prices Are Falling
If you've been travelling for your summer vacation already, you've probably noticed a positive trend. The price of gasoline has been steadily going down. Crude oil prices have been declining for the better part of 8 months, and the price of unleaded gas has followed.
The gas station a couple of blocks from my home in Davison has lowered their prices several times in the last week, the latest drop to $3.15 a gallon. Needless to say, people were lining up to fill their tanks.
At the beginning of 2012, oil industry prognosticators were predicting gas prices in the neighborhood of $5 a gallon by this time of year. Happily, they are right about as often as weather forecasters.
Enjoy the low prices while they last. Right now, world supplies are high. That could change if oil producing nations decide to cut production. Or some unfortunate international incident could also cause panic on world markets.
If you would like to be able to keep track of the price of oil and gasoline on the commodities market, just visit: www.money.cnn.com/data/commodities
Knowledgable consumers keep prices honest.