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Old 10-23-2008, 07:35 PM   #1
Wadeisabeast
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Default Gas Prices and the economy

Many on here claimed that the reason gas prices were so high was because of the decreasing value of the dollar. But now gas in some parts of the country is around $2.20. What do those people that made those claims have to say now? The economy is clearly in worse shape now than two months ago, yet gas prices are down almost $2/gallon.

And if the value of the American dollar was the reason before, why were gas prices insanely high in other Regions of the world?

Last edited by Wadeisabeast : 10-23-2008 at 07:41 PM.
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Old 10-23-2008, 07:42 PM   #2
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Default Re: Gas Prices and the economy

I think the price was high because demand was high... now people are conseving money, and trying not to use so much gas so the price is going down. I just hope people dont go crazy with the new low price and start using oil to the extent of before... where we see it go back to $3.50
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Old 10-23-2008, 07:45 PM   #3
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Default Re: Gas Prices and the economy

Quote:
Originally Posted by Kumo
I think the price was high because demand was high... now people are conseving money, and trying not to use so much gas so the price is going down. I just hope people dont go crazy with the new low price and start using oil to the extent of before... where we see it go back to $3.50

I doubt the consumption of gasoline decreased more than 5% in the last 6 months. That is definitely not the reason prices dropped so much.
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Old 10-23-2008, 08:24 PM   #4
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Default Re: Gas Prices and the economy

I've explained this in the other thread I made about declining gas prices: WORLD DEMAND is exponentially decreasing. Have you noticed the trend of the dollar lately? It was just 1/1 USD/CAD just a little over a month ago (when we had $4 gas), now 1 US dollar will get you a $1.25 Canadian (a 25% increase in strength vs the Canadian Dollar).

So how is the dollar gaining strength? It's not, it's just that the world's currencies are falling at a faster rate.

The world economy is in the sh*t.
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