Wednesday, November 19, 2008

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Gasoline prices fall to $1.41 /gallon in Missouri.

Check prices in your area.

Gas buddy. Lower left. Click.

Gasoline prices are falling all across the nation. Maybe this has something to do with it.

"LONDON (Reuters) - Oil fell below $54 on Wednesday to its lowest since January 2007 after an unexpectedly large build in U.S. crude inventories underlined falling demand."

"With no end in sight for the global economic turmoil, traders continue to focus on the lack of demand heading into 2009," said Jonathan Kornafel, Asia director of U.S.-based options trader Hudson Capital Energy.

"It is becoming quite evident that demand may actually drop from 2008 to 2009."

Some are predicting $30 / barrel crude. It's called 'supply & demand', 9% nancy.

As a matter of fact, all U.S. prices are falling rapidly. The Europeans are calling this the worst economic crisis since WW2. In the U.S., we're more the 'glass half full' type, and manage to find One Good Thing.

As long as deflation stays at bay, we'll do just fine, folks.

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