Wednesday, February 18, 2009
Crude oil is getting cheaper — so why isn't gas?
I have seen gas prices go up lately and I was wondering why that was considering that the economy has forced people to use less gas and drive fewer places than before. This article points out that we are now buying crude oil from overseas markets that cost more than our local product, which is contributing to the cost increase. The price increase of gasoline was one of many signs that Senator McCain was unable to overcome during his campaign and with another potential rise in cost, President Obama will probably be forced to take action again.
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http://money.cnn.com/2009/02/16/news/economy/_prices/
This link should help
Yes, gas prices have gone up slightly but not too much. Oil has kind of hit a floor at $35ish.
As for federal policy, right now, gas prices are low enough that Obama will not have to do anything to combat them directly.
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