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Originally Posted by Rupert Pupkin
Jessica, I can tell you why gasoline prices are going down. It's no great mystery. You're going to feel pretty silly when I tell you the answer. Gas prices are coming down because the price of oil has been coming way down. Our government has no control over the price of oil. It is a commodity that trades all over the world. Our govenrment does not set the price of oil. There is a futures market for oil and every other commodity. The price of oil has been going straight up, but it's just like anything else. It's like any other commodity. It's also like the stock market and the real estate market. It goes up and it goes down. Oil recently got up to an all-time high of $77 a barrel. Now it is finally starting to come down. It has dropped down to $63 a barrel. That's a 20% drop. That's why gasoline prices are coming way down. When the price of oil comes down, the price of gasoline will drop. It's that simple.
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Thank you, Rupert. I was wondering when the logic was going to come... I work in Investments and you are completely correct.