Friday, November 17, 2006

This News may be Music to your Gas Tank

The price of gasoline has thankfully plummeted and is averaging at about $2.25 in NY. More good news may be on the way as crude oil is currently trading at a 1yr low at about $56 a barrel. Perhaps we will see even more relief at the pump gin the not so distant future. More good news from Bloomberg:

Above-average temperatures will cover the northern third of the U.S. from coast to coast this winter as an El Nino weather pattern persists, the U.S. Climate Prediction Center said yesterday in a report that covers December through February. A warmer-than-normal winter in the region would reduce demand for fuels used to run household and commercial furnaces.

``There is no enthusiasm to drive oil higher,'' Informa Global's Luxton said. ``Psychology for the price is negative.''

Update:SerandEZ has some incredible news about Oil in Israel!

1 comment:

Ezzie said...

"It's a small world..." :)