Gas prices are now reaching under 3 dollars for the first time since 2010! It seems like a miracle driving around seeing signs in the 2’s, but it IS a reality. Obviously the lowering of the price of gas is due to a drop on the price of oil, but do you know why? Researchers say there are various reasons, such as drilling in Iraq and Libya, or because Americans have reduced fuel usage in the past few years by driving more efficient cars and/or carpooling in order to save money, while in turn creating an overstock of fuel. The low gas prices are predicted to last through the holidays, however, it is likely they will rise above 3 dollars by spring or summer.
Do these new gas prices lower shipping rates? It is a little early to say but it is likely to happen, as carriers will have extra money for gas. Transportation such as bus and airfares have not yet lowered and may not, since the holidays are still the most expensive time to travel, and the demand during the season does not subside.
Make sure to check back for more updates on reduced rates!