The End of Falling Gas Prices is in Sight
Economists have recently been speaking of the halt of falling gas prices in the US that have, lately, become a gift to consumers. With a national average of $2.08 a gallon, the nation is seeing prices that haven't been this low in years. Although the falling prices are not new news for anyone not living under a rock, the stopping of the decrease seems to be a surprise, and disappointment, to all.
Along with the expansion period for the gasoline prices after it hit its trough, the prices will rise even greater because the month of February has a tendency to bring more expensive prices, because of maintenance of the refineries during the winter months. Economists are worried that gas prices will go higher than expected and maybe hit the other side of the extremes. Although oil companies are in mourning lately, consumers have been on cloud nine filling up as much of their tanks as they can and an extreme shift in price can really put a dent in consumer confidence.
I understand that the gasoline market shifts back and forth from low prices to high and a rise again in prices is inevitable, but as a fellow consumer, I have to feel some remorse and I'm sure others can relate. I am personally worried about consumer confidence in this topic. It could put a dent in the high confidence we currently have and cause people to buy less of other goods. Of course, this is all part of an economy, but the coming months may be rough for consumers demanding gasoline.
Personally, I am enjoying the gasoline market right now but I am too, worried about the future. Who is to say that these prices could become something bad in the future.
ReplyDeleteThe low prices are good now but of course everything comes at a cost. Before we know it the price of gas will be above what it was before the drop.
ReplyDeleteI think it makes sense that there would be a slowing down in the fall of prices. If the price of oil drops too low, then oil companies won't be able to stay in business. If all the oil companies go away due to lack of profit then the prices will skyrocket back up.
ReplyDeleteLike I said on James' blog post, I think thag the prices being down are great. But I do also think that once the prices rise back up, it will be a lot more than it was before the fall of gas prices. It's just how it works I guess!
ReplyDeleteEverything comes to an end some day. the same applies to gas prices. My personally love how low the prices have been. At the sometime would like them to stabilize so not to push the producers to cut jobs.
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