Tuesday, May 18, 2010

Why Gas Prices Should Be Going Down!

No Good Reason For Higher Pump Prices
Nanaimo Drivers Being Gouged Again!

The following paragraphs from an article in the Financial Post shows why drivers should be experiencing LOWER prices, not ever increasing ones, if market pressures really do make any difference.

"LONDON -- Oil struggled more than a dollar higher to above US$71 a barrel on Tuesday, recovering from a five-month low the previous session, but high inventory levels and the strength of the dollar were expected to limit gains.

The trends remain uncertain because of persistent investor concerns over the euro currency and swollen U.S. oil inventories, with the euro again rising and falling in volatile trade near a four-year low touched on Monday.

June crude has fallen 20.5% from its 19-month high US$87.15 hit on May 3

To read the complete article use this Nanaimo Info LINK.


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