What goes up invariably comes down, but not always as quickly as we might like.
Americans who are benefiting from lower gas prices could see some food prices fall, especially dairy and meat products, but the rate of decline will be at a far-slower pace than the recent plunge in the price of gasoline, commodity traders and insiders say.
Just six months ago, oil prices were heading close to $100 a barrel, partially as a result of unrest in Iraq and fears of supply interruptions. Now, as the U.S. may supersede Saudi Arabia as the world’s biggest oil producer, concerns over world economic growth (outside of the U.S. economy, which actually appears to be breaking out of a sub-par recovery) oil prices have plunged. West Texas Intermediate crude oil prices for the week ending Jan. 26, 2015, fell to $45.15 a barrel, down 53% from a year ago.
Read More at Click Here / www.trade4x.net
Americans who are benefiting from lower gas prices could see some food prices fall, especially dairy and meat products, but the rate of decline will be at a far-slower pace than the recent plunge in the price of gasoline, commodity traders and insiders say.
Just six months ago, oil prices were heading close to $100 a barrel, partially as a result of unrest in Iraq and fears of supply interruptions. Now, as the U.S. may supersede Saudi Arabia as the world’s biggest oil producer, concerns over world economic growth (outside of the U.S. economy, which actually appears to be breaking out of a sub-par recovery) oil prices have plunged. West Texas Intermediate crude oil prices for the week ending Jan. 26, 2015, fell to $45.15 a barrel, down 53% from a year ago.
Read More at Click Here / www.trade4x.net
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