December 28, 2005

...AND LOWER...:

Why energy prices are cooling off: Home-heating oil prices have declined by some 60 cents a gallon since September. (Ron Scherer, 12/29/05, The Christian Science Monitor)

Already there are reports that OPEC will cut production, perhaps by as much as one million barrels of oil per day, to try to keep prices from falling. "In the second quarter of the year, demand is at its lowest," says Mr. Routt. "If they continued pumping when demand eases they could be accused of crushing the market."

Oil prices have remained below $60 a barrel for six months. Combined with lower demand for gasoline, this has helped bring down the price for motorists. Wednesday, GasPriceWatch.com reported the national average at $2.15 a gallon.

Posted by Orrin Judd at December 28, 2005 7:48 PM
Comments
« SAY GOOD-BYE TO THE FILIBUSTER: | Main | PICK THE ALAMO BOWL SCORE, WIN A BOOK: »