Finally, We Can Afford a Tank of Gas -- Sushi Money

Oct 24 2008

Finally, We Can Afford a Tank of Gas

What a difference a few months can make. I paid $2.19 per gallon to fill up a tank of gasoline today. Is that amazing or what?

Remember all those days of $3.79 or $4.20 per gallon gas where it was just crazy silly to be paying those prices? Looks like global demand has dropped so much that oil is falling towards $50 dollars a barrel. We may see gasoline under $2 bucks a gallon in some states before year-end.

Meanwhile OPEC is scrambling to cut production and keep prices high around the world. Iran and Venezuela are screaming “Higher! Higher!” while the price of oil- and their ability to prop up their regimes- keeps falling.

Realistically, I wonder how long oil prices will remain this low?

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