Couldn’t believe the prices at the pumps in the gas stations. They are falling like rocks. According to American Automotive Association, national average for a gallon of unleaded gas is $2.182. Feels like back to the good old days when the price per gallon of gas was in the low $2.00.
If you listen to the analysts from Bloomberg, CNN, or other financial networks, we are dealing with an “oil economy.” Oil Economy #@#&*? Since I am only buying gas by the gallons and not barrels, the oil price impacts most in my wallet when I go fill up my car at the gas station.
While I am happy about the savings from the gas and already counting the ways I can spend this windfall, some say there is a downside. What downside? These are those who suggest the price drop of oil in the long run is bad for the U.S. economy, at least to the Energy sectors.
This is for sure. While there is no absolute winners or losers, I will be taking advantage of the low oil price and not be wringing my hands.