In the Spirit of the Economy,
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Gas prices dip below $3 a gallon: What's really behind the slide?
While this exact makeup tends to vary by region, it’s fair to say oil prices are the most important factor in determining the price of gas; plummeting crude should mean cheaper fuel. In that regard, low crude prices are “a victory in the big picture for the consumer,” according to Kilburg. “Crude oil back under $80, that’s a win.” And fuel prices could be heading lower still. “The momentum is there,” said Kilburg. “Crude oil is in a bear market. As soon as it got under $86.14, you’re gonna see continuous selling pressure in the crude oil [market], which as you know 66% of that is reflected in the ‘pain at the pump’ price. So I think we do get closer to $2/gallon.” Kilburg added that that could mean more people will splurge on a Snickers or Coca Cola (KO) at the gas station.
http://finance.yahoo.com/news/gas-p...what-s-really-behind-the-slide-134848348.html
(Getty Images)
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... Video available, click the link below ...
Gas prices dip below $3 a gallon: What's really behind the slide?
While this exact makeup tends to vary by region, it’s fair to say oil prices are the most important factor in determining the price of gas; plummeting crude should mean cheaper fuel. In that regard, low crude prices are “a victory in the big picture for the consumer,” according to Kilburg. “Crude oil back under $80, that’s a win.” And fuel prices could be heading lower still. “The momentum is there,” said Kilburg. “Crude oil is in a bear market. As soon as it got under $86.14, you’re gonna see continuous selling pressure in the crude oil [market], which as you know 66% of that is reflected in the ‘pain at the pump’ price. So I think we do get closer to $2/gallon.” Kilburg added that that could mean more people will splurge on a Snickers or Coca Cola (KO) at the gas station.
http://finance.yahoo.com/news/gas-p...what-s-really-behind-the-slide-134848348.html
(Getty Images)
...