So, what exactly is driving gas prices down so quickly anyways?

Not to long ago, I was shelling out .80/gallon at the pump. Now, as of today, the prices in my town have reached a low of .47/gallon. That is a HUGE drop in such a short time.

I haven’t been keeping up with the news, as I don’t have TV at home, but I was curious as to exactly what economic/political/natural/other forces were at play driving the price down. I’m not aware of any new increase in supply, and I’m also not aware of any major decrease in demand, although these statements might reveal how little I am aware of :\

I’m sure to all of you out there who are in the know my question probably seems like a very slow and late reaction to what’s going on. Slow and late describes me well 😀 So thank you any answerers for your patience with me, and thanks for any answers in advance. God bless!

3 Responses to “So, what exactly is driving gas prices down so quickly anyways?”

  1. Othniel Says:

    Basic capitalism is no demand equals lower pricing.

  2. oracleofohio Says:

    "They" say there has been a decrease in demand. Are we driving less? We’re still driving the same as usual….

    If you ask me, the market is manipulated, period.

    I’m jealous of you with your slower lifestyle and not owning a tv….I’ve been trying to get rid of ours with much protest from the hubby and kids…

    You’re one of the few who’s not being "programmed" by the "programming"….keep it up and enjoy the new prices while they last! :)

  3. Christina B Says:

    I think it might be because the dollar has gotten stronger recently.