;Gas prices have remained stubbornly high well past their traditional Memorial Day weekend peak, due largely to supply shortages and refinery woes on the West Coast and Midwest. But with oil inventories rising and production issues ebbing, prices have been easing the past week, a trend likely to accelerate. "This is very much gravity at work,'' Kloza says. "The faster prices soar, the more prone they are to panic sell-offs."'
Cue "Obama is manipulating the market to win!" whinging in 5 … 4 … 3 …
Reshared post from +Jeff Zimmerman
More bad news for Romney: Gas prices could drop 50 cents a gallon
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Gas prices could soon drop 50 cents a gallon
Motorists are about to get a big break on gasoline prices, which could plunge as much as 50 cents a gallon by November. Gasoline prices have remained stubbornly high past their traditional summer pea…
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Uh oh….the economy must be getting to crash again….
Around here it's definitely down off the crazy peaks we had a week or so ago.
It's that supply and demand thing, +Mark Means 🙂 — prices go down when demand is down vs. supply (like in the middle of a massive economic crash) or when supply is up vs. demand (as seems to be indicated by the USA Today article).
And, of course, it all gets complicated when you factor in that it's a world-wide petroleum market, though affected secondarily by local refining and transportation markets.
I don't think Obama should get particular credit for dropping prices at the pump. But to the extent that he's been unjustly blamed for higher prices at the pump, I'll be just as glad to see that particular complaint cut off.
To an extent, I don't have a major problem giving Obama a little credit for the lowering of gas prices…in the realm of it being on his 'watch'.
As for the rest, I know but couldn't resist cracking wise 🙂
I figured as much. 🙂