By now, you may have noticed that the gasoline price have reached an all time low. You may even try and fill up your car full of gas which is a very rare occurrence nowadays. However, before you celebrate, you may want to remember that the country is also affected by the world financial crisis that makes everything expensive.
So, just why is gasoline getting cheaper while everything else is getting more and more expensive? Well, there are basically a few factors that contribute to the price of gasoline. The first is the price of oil. As most people know, the price of oil is determined by supply and demand. Today, there is a surplus of oil supplies while there are limited demands for it. Even in the United States, the demand for gasoline is getting lower and lower each day.
Because of this, oil producers will need to lower the price of their oil in order for it to sell. With this, the gasoline (which is basically refined oil) will also be priced lower in order to entice people to buy gasoline. However, because we previously experienced a very high priced gasoline just a few months before, we tend to adapt to the system and prefer the money-saving system. So, people...
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