Oil Prices Hit 8-Month Low, Will Relief Reach Us?
8 months ago, the price of a barrel of crude oil was selling on the commodities market for around $140. Today, the price of that same barrel of oil is just a little above $81. So why are prices at the pump not falling in proportion to the price of oil?
That's the million dollar question. According to www.money.cnn.com/data/commodities/ we should be seeing some relief at the pump for our summer travels. Not only was oil trading today for $81, but Unleaded Gas dropped 5 cents a gallon on the commodities market today. The wholesale price of unleaded gas is $2.51.
Prices around the Flint area are still in the $3.48 to $3.60's range. That should be going lower in the coming days and weeks. Share this information with friends and family. If we all know what the price of fuel is, it will be harder for gas stations to stick it to us. Be an informed consumer. Informed consumers pay less.