English: Gasoline pump (Photo credit: Wikipedia)
Media crowing about reduced gasoline prices. In Green Bay Wisconsin, gasoline is being reported of dropping 12 cents a gal overnight. Why the big drop? What is the real reason?
Why Are Gasoline Prices Suddenly Falling?
Published: Wednesday, 17 Oct 2012 | 12:16 PM ET Text Size
By: Sharon Epperson
CNBC Senior Commodities CorrespondentA dramatic spiral for gasoline prices in some key battleground states comes just three weeks before the U.S. presidential elections.
“I suspect that both candidates can guarantee $3 to $3.25 gal gasoline in Ohio after this week’s gasoline debacle,” said OPIS analyst Tom Kloza. “You will see some sharp retail drops in battleground states like Ohio, Pennsylvania, Florida, Wisconsin, and Nevada in the next few weeks.”
In the end, supply and demand is causing prices to moderate once again.
Read more at CNBC.
Is it a ploy by the Obama administration to get votes in November? Gasoline prices dropping to $3.00 a gal, vote for Barack Obama! The above article would say it’s only because of supply and demand but they did focus on mainly battle ground states in their report. Are the markets happy with Romney leading in the polls? It is all speculation but that’s why for the next couple days, lower gasoline prices will be the lead and front page stories. What do you think? What is the real reason?
Still not a $1.00 a gal.
Drill baby drill!
Related articles
October 18, 2012
World