Sunday, March 21, 2010
Gas prices expected to flatten
The gas prices are expected to level off, according to cnn.com. The last few weeks the gas prices have been increasing, an 18.2 cent increase over the last month. But, the prices are expected to remain relatively constant for the next few weeks due to the large supply of crude oil and gasoline. Also, the demand will remain to be lower than usual due to the economic conditions.
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Another interesting thing that has been affecting the demand for oil is technology. Over the past year, the auto industry has been scrambling to make smarter and more fuel efficient vehicles to increase their own sales. While it may be only a few mpg better on many vehicles, those go a long way on overall demand. Also, the huge decrease in "gas guzzler" purchases should have a huge affect on low demand over the summer months to keep prices low.
ReplyDeleteLooks like I will be walking to class for the next couple weeks.
ReplyDeleteIts amazing how I still see Hummers out on the road, I thought people would either throw those gas guzzlers away or stop buying them. However, they are pretty cheap since the low demand of those kind of cars.
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