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Gas prices are down, and they are about to fall even further -- perhaps to less than $2 a gallon.
"There will be thousands, even tens of thousands of stations below $2 by the time we're into football season," said Tom Kloza, chief oil analyst for the Oil Price Information Service, which tracks retail prices for AAA.
While this may be beneficial short term in the long term it's going to be an issue. US producers are working on slim margins now, OPEC is not slowing production in the hopes of putting them out of business. We'll be back to $4/gallon gas in two years if they succeed.
Isn't it strange? When prices were up, people were unhappy. Now as prices are going down, people aren't happy either.
The thing to realize is the reason they are down is because of US producers putting pressure on OPEC, this is a good thing for a variety of reasons. If they go too low it's going to turn into a bad thing.
I'd much rather see gas at $2.50 gallon if it's going to stay there instead of $2/gallon gas that is going to cost me $4 in two years.
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