So it was only 5 months ago we were discussing how high the price of gas was and the things we were doing to save and cut back. Today the price of gas is nearing 5 year lows and even though I'm fairly well educated I'm left shaking my head. I just don't understand how in one breath the analysts were crying how supply is down and demand dictated the high price and now that has totally collapsed.
I would have never have wagered that the price of gas would be back under two dollars. If you look at the charts, the price of gas and oil has just about collapsed and is sliding further and further down. So is there a legitimate economic reason for this or does one have to put their tin foil hat on and say has someone said we either lower the price of fuel or the economy will totally collapse? I guess what I'm scratching my head about is how in only a matter of months we went from paying all time highs to five year lows? Something isn't right with this equation.
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