Quote:
Originally Posted by Iffykid
With no one going to work in China there must be an over abundance of gasoline on the market, Why arnt gas prices plummeting? I could drive my 4runner more with cheaper gas prices.
|
Gas prices
are falling---but not plummeting--- here in CA, but they were already beginning to fall before the big virus death scare and subsequent Chinese economic slowdown. It is theorized that the slowdown in oil demand from China's Covid19-related economic slowdown plus the ripple effect on other economies will depress world oil prices. But oil prices are not the same as gas prices. The retail price of the refined product usually very slowly follows a drop in oil price.
Personally, I always voice "support" for hybrid and electric cars... but mainly as a way to keep gas prices down for our thirsty dinosaur monster trucks (ha ha.)
