These recent decreases at the pumps are more likely to be temporary. The U.S. concerns over Iran's nuclear ambitions and violence in Nigeria have kept the price of crude above 65 a barrel -- a level not seen since the hurricanes of 2005. If crude continues to stay at this level, motorists will continue to pay high prices at the pumps.
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These documents are often marketed as a way for people to drive without obtaining a valid license, or to continue driving if their government-issued license has been suspended or revoked, or as a way to avoid driver's education.Rose Rougeau
Higher gas prices will not deter Texans from traveling this holiday. Nearly 5.1 million Texans are expected to travel for the Christmas - New Year's holiday, up 1.4 percent from last year. When you factor in hotel and rental car rates, gasoline remains a relatively small part of most family travel budgets.
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The jump in retail gas prices is partly due to the seasonal production switch from winter to summer grade gasoline, which usually brings higher prices as output is temporarily reduced. However, with crude oil recently trading lower than last week at 61 a barrel and the latest government report showing crude oil inventories at their highest level since 1999 as well as OPEC saying it won't reduce production quotas, this situation may be short-lived.
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Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around 64 a barrel, it doesn't appear likely gasolin
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Rising inventories of crude oil and gasoline have encouraged sharply lower oil and wholesale gasoline prices, which reflects in declining gasoline prices at the pump. Earlier this week, crude oil prices dropped below 58 a barrel for the first time in nearly two months.
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