It is very likely that you may have noticed the latest price of gasoline when you visited your local gasoline station. And, you may even have left the station with a smile. Well, thats what low gasoline prices do and with the gasoline price reaching an all time low, it will surely make everyone who owns a car very happy.
However, this will usually make people ask the question on how long will this price trend last. And, it will also make people ask why the sudden decrease of gasoline price.
First of all, you need to remember that the gasoline price decreased because there is a significantly high supply of oil in the world market. However, because of the low demand for oil, oil companies sold their products at lower prices in order to increase the demand for it.
The reason for the oversupply of oil in the world market is that oil companies anticipated Asia to increase oil consumption. Early this year, Asia consumed a lot of oil that had oil producers and companies worried that the oil reserves they had werent sufficient to keep up with the demands. So, what they did is that they increased production and stored vast reserves of oil.
However, because of...
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