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Slartibartfast

Does the Bugger Factor even apply to oil prices?

Oil is currently cheaper than it has ever been, which drives gas prices down - but due to COVID-19, we can't drive anywhere :-(

Posted - April 25, 2020
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Responses


  • 13277
    It's basic economics. Declining demand/need relative to supply always drives down the price.
      April 25, 2020 8:05 PM MDT
    3

  • 16763
    It's a combination of factors. OPEC was trying to cut global production to put a floor under the price of crude, but Russia wouldn't be in it. The price would have been driven downwards even in the absence of the virus, prices were in freefall even before the world became fully aware that China had a "problem".
      April 25, 2020 8:11 PM MDT
    1

  • 17593
    It's like being 16 again. 
    Gas is cheap and I'm grounded.


    (Courtesy of someone else)
      April 26, 2020 2:56 AM MDT
    3