The price of oil is continuing it's downward trend. Oil dropped almost ten dollars a barrel this week to $115 a barrel. Apparently this is due to a strengthing dollar. The Dow also gained 300 points on Friday. However it dropped around 225 on Thursday so I'll let you decided if that gain really means anything.
Gas prices are down $32 from its record highs, and it appears that gas prices will continue to drop for the rest of the summer. "We're probably going to see gasoline at the retail level around $3.50 for Labor Day," said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com." Of course gas will be cheaper in the South where I live.
If the dollar continues to strengthen and gas prices continue to drop we should be out of this economic slowdown by next summer. I don't think it takes an economics degree to figure that out.
1 week ago