Wednesday, July 28, 2010

How low do you think gas prices will go now that oil is declining?

Do you think they will go under $2.00 a gallon? Or will OPEC lower supplies to keep the prices stable?How low do you think gas prices will go now that oil is declining?
As long as we allow the oil companies to gouge us with the prices. Right now there are hundreds of tankers floating around full of oil and nowhere to go. They, OPEC, had considered dumping the oil in the ocean but refrained due to the backlash from environmental groups. If the price per barrel falls to 10 cent we will still be paying high prices. That's the appreciation we get from our own people the big oil companies. How low do you think gas prices will go now that oil is declining?
Maybe in the U.S . But in the UK not a chance,once a product goes up in price it stays there ,the price per barrel could go to $50 but our greedy government will not let go of its vast income from the fuel duty nor will the petroleum companies lose their vast profits.The saddest part is all the basics in life have increased along with the fuel prices and although the price of crude is coming down .A basic product like bread has risen 50% on the back of oil prices but you can bet they will not come down due to cheaper oil.By the way its more like $10 a gallon at present in the UK.
Why would it go low ?? while it will rise as its requirement is increasing day by day

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