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Gasoline Prices Continue to Plummet, But What Does It Say About the Global Economy?


 

Nearby gasoline prices have not been this low since Jan 2011.

More significantly is the fact that prices have broken down from a huge support zone between $2.55 and $2.44, which projects measured downside targets at $1.88-$1.85, and possibly into the $1.50 area. 

If this occurs, it will return gasoline to levels not seen since the 2008-2009 financial crisis.

Of course, there is always the threat of geopolitical disruption (of crude oil supply), or is there?

Lately, the more intense the geopolitical threat from ISIS, and U.S., and allied combing of Syrian and Iraqi oil production facilities, the weaker the price of oil and gasoline!

In a sub-par demand world awash in oil and oil production, it would seem that gasoline has nowhere to go but down for a while.

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