Thursday, 04 August 2011 18:14

Prices going lower – good for the consumer?

The crude oil prices are in a free fall right now. WTI and Brent have never been as low for the past weeks. All this because of the US politics of the last days. But even the further developments in the Government and the future of Spain and Italy have a great impact on the barrel prices.

Brent costs $108.52 per barrel and the West Texas Intermediate fell under $90. A barrel of WTI costs $87.60.

Analysts say, the demand of gasoline of the last few weeks is 3.6% lower than this time last year. Interesting, when we consider, that they talk about the high-season of driving. Actually, the demand didn't fall because of lesser use, but because the gallon costs over $1.

There will be always a great demand of gasoline, fuel and oil, but until the prices don't go lower the demand will be braked.

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