By now it is OBVIOUS: it is the COLLAPSING DOLLAR that is driving up the price of my gas!
You know the drill, readers!
"Economic Fears Slice Oil Prices for Second Day
Concerns about a slowing economy and rising inflation pushed oil prices down sharply for a second day on Wednesday, an unusual dip in the oil price rally that began more than six years ago. The two-day decline totaled more than $10.50 a barrel.
The drop in oil price contributed to a jump on Wall Street, with most major markets rising more than 2.5 percent. The drop in oil was also caused by new evidence that Americans were driving less because of gas prices, which hit a record of $4.11 a gallon, according to a nationwide survey by the motorist group AAA.
The Consumer Price Index report, released Wednesday, reinforces what many economists, including those at the Fed, have warned about for months: Americans are being forced to pay significantly higher prices, even as the job market weakens and big employers announce plans to lay off thousands of workers.
Richard Moody, an economist at the real estate firm Mission Residential:
“There’s not enough lipstick to put on this pig. No matter how one slices and dices the C.P.I. data, the bottom line is that U.S. workers are falling farther and farther behind.”
So that is what I've been feeling lately.
"Shares Rise as Oil Continues to Fall
Shares rose for a second day on Thursday as oil prices continued to plunge. Oil prices plunged $5.42 in the final minutes of trading, to end the day at $129.18 a barrel. Oil prices have dropped more than $18 since Friday.
Ironically, analysts believe the major cause for the dip in oil prices is the expectation that the economy will get worse. Central bankers and policy makers issued bleak forecasts this week, warning that inflation could worsen and growth is likely to slow.
But if consumers have less money to spend, they may cut down on gasoline use, and lower demand for gas would eventually cause prices to fall.
Yeah, WHEN?
