Is it a good thing that the price of oil is so low?

Should we celebrate? Does this mean the economy is really bad? Why aren't cars lined up at the gas station? Why doesn't anyone else seem super happy about it? I am.


Is it a good thing that the price of oil is so low?
A lot of people are now out of work due to layoffs, so fewer people are driving to cut costs. Vehicle fuel is a supply and demand commodity. Although oil is used in other products, such as plastics and lubricants that are recycleable, oil used as automotive fuel is non-recoverable. Gasoline is not one of those things that does not stores very well, so it must be sold fairly quickly. Sell, re-fill, make more, dig more - that's the cycle. Supply and demand. Demand goes down, supply goes up, price goes down. It cycles up and downIs it a good thing that the price of oil is so low?
It is not low believe me.


Petrol used to be the equivalent of 6 gallons for 拢1 sterling, so don't be conned by any government bulshine they and the Oil producers are ripping every one of Beyond belief.
the good thing is that its easy on your pockets and the bad thing is that this encourages people to spend more on oil and the carbon emissions increase, btw people dont have money now to spend more on oil
Didn't realise that the price of oil was low all I know is that we are paying a lot more now for a litre than we paid for a gallon at one stage of the game.
I think what has happened here in the US is people are just flat broke and aint buying the stuff like they were. It is really a sign the economy is shot when Americans dont travel....although it is a relief for me at the pump!!
Doesn't it mean the lower the price of oil, the lower gas is?
I'm happy. But years of experience tells me that it's only temporary and I wish I had a large storage tank so I could buy a BUNCH of it.
yes unless it was cheaper. And actually yes since the economy is bad less and less people can afford gas
For me it's a good thing.
would u prefer it was dearer?