There seem to be many answers to questions of why there all of a sudden is a drop in gas prices. Some people recognize there is a seasonal drop in price around this time almost every year. The heavy summer driving season is over, and that just makes the demand for fuel less. So supply is greater than demand, and that means cheaper prices.
There were no hurricanes to damage our refineries and oil supplies this year. That is always a possibility with the location of many of our refineries in what is known as hurricane alley.
In fact, this fear is why the House of Representatives passed the GAS act directing our President to find safer locations to put the refineries.
Then of course is this war, which could also cause a deficit in our supply of gas, and during the summer with these fears and possibilities all around us, it brought the cost of crude oil way up, and our gasoline prices followed right behind. In July, crude oil was going for almost $80.00 a barrel, last Friday, it was under the $57.00 mark.
Now we also see OPEC on the horizon hovering over us like some big gassy cloud, telling us they are going to reduce oil production by more than one million barrels a day. Great OPEC, we're just getting away from the high gas prices, don't tell us that will start up again.
But will it? We have to wait and see if the oil producing countries do cut down on the production, if they do, prices will go up. How many times has OPEC said they are going to cut back, and do but less than what they threaten.
Hey, enough with the OPEC cloud, back to the elections. It would seem the rest of the world is also enjoying a cut in gas prices, now, we know the republicans wouldn't care about them, since they can't vote here.
No one is denying that as a country we have lost our innocence and know the leaders of our government are only human, with the poor judgment that comes along with being so.
Many Americans do not trust the principles of some of the men in public offices. I know what they mean, I live in New Jersey. I just don't think they have that power, not in this gas arena.
There seems to be a nicely paved road of facts for us to follow in the search for why the prices of gas fell, and hopefully, they will continue to fall, or at least stay where they are.
Will these prices rise again? Many experts say yes they will, but these experts don't think it is a political move, they just know the patterns of the global economy of which oil and gas play a big role.
Conspiracy theories run rampant in today's world about many issues, and many people believe this lower gas pricing may just be another one of them. I hope they are wrong.