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FuelMeUp.com: Finally a Break in Gas Prices

2008-10-23
Not only are we finally seeing a break in gas prices, but we have finally updated some good news for you guys. Gasoline consumption has dropped 5.2% in the third quarter of this year. This is the largest decline in gas consumption in well over a decade. This drop is the main cause of the lower prices. The refineries are seeing a huge amount of inventory and are cutting prices to reduce the excess gasoline in storage. A barrel of oil is trading at $60.82 which is less than half on the price of a barrel of oil in July. The analysts expect that the price of a barrel of oil should level out around $60.00 +/- for the next 6 months. We should see an increase in prices in late spring, but that is a normal tread due to more consumption.


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