2008-09-09
Price of Crude Oil
The price of crude oil has gone down from $140.00 per barrel to $102.50. It is very interesting to note that when the price of oil increases, the price of gas immediately increases but why it is that when it goes down, the price of gas does not immediately decrease?
The decrease on price of oil was due to the oversupply of it and also the fact that the US has cut down its demand of crude oil due to the slowing economic growth.
To date, the price this year of crude oil ranges from 90.05 - 146.50.
September 13, 2008 at 8:35 AM
Allure,
Yes, the response is a bit slow when the price is down.
The price of oil in our country has been adjusted down 7 times, this is ready a good news for all of us.
Nice post, Allure, I have a friendship award for you, please take it from my site, happy weekend.