...and now we know, price of gas is more a function of demand then it is of disparity. Demand takes a dive as so do the prices. I made a bet with a financial advisor less then a year ago that the price-per-Barrel would surely drop below $100 before the end of my life. He was convinced that cheep gas was a thing of the past.
Can someone please explain the implications of this recent fall in gas prices?! but no one will...
The relevant question to ask, from a humble analytical perspective, is: what is the level of urgency we face? It seems that gasoline is rather elastic. What does this mean?
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