WTI oil opens at $38.95, down $1.50
RBOB gasoline opens at $1.5140 a gallon, down 3.09 cents.
What happens when the market opens with a major-league plunge, as everyone seems to be predicting?
I\’ll update during the day.
================================================
UPDATE: At 4:51PM, WTI oil is at $38.25, down $2.20 for the day, a drop of about 37% in two months…
…and RBOB Gasoline is at $146.15, down $8.34 for the day. That\’s a drop of about 17% in just one week\’s time.
Gasoline prices should be going through a trap door.
And now, as we enjoy those lower gas prices, we had better also start worrying about the fallout they will cause in the energy and related sectors. Sometimes a good thing for one reason is a very bad one for another.
