Analysts and economists say that oil could drop below $50 a barrel, and even under $40. However, they say it can rise just as fast. The oil prices have been on such a deep decline because of evidence that the deepening recession would have a severe impact on demand, reducing the use of oil by industries and individuals alike.
It is different in all areas around the country, but I just recently saw the price of gas drop below $2 a gallon. I’m sure everyone is liking this low price of gas, but we need to remember to keep using as little as possible. If the demand jumps up again, the price per barrel can easily rise.
