It Keeps on Dropping

I happened by a gas station last night when the price was $1.69 then less than 24 hours later I drove by the same gas station and gas was $1.59 for regular unleaded. I am very glad that the prices keep dropping but it raises a lot of questions.

Yes I know that right before and during the summer gas prices go up; but for them to drop over $3.00 a gallon now that summer is over is a little more than normal. We saw a major increase in prices over the past two years. Was this because less oil was being produced? Hurricanes taking out refineries? Or the war on terrorism?

Well....the war is still going on, we've had some big hurricanes, and from what I understand there might be a little more oil being produced. However, what I think is the biggest reason for the increase and massive drop we have seen is greed.

The big oil companies keep posting billion dollar profits, yes we know - they are profiting off of us, the consumer.

But it's not just the gas prices that have dropped. Our economy has dropped or bottomed out. Again, the explanation has been part of the reason is due to the war on terror. But could the reason be over inflation of prices and services. I go back to greed, greed of the consumer and greed of the retailer. The age old statement of supply and demand is always in place. People are willing to pay more money when there are hot items to be had, and retailers are very quick to mark up items they know will be the next "thing" for more than its worth.

So is it the greed of the consumer living in a materialistic world, or that of the retailer who over prices goods, materials and services. I say its both.

Hopefully once everything settles we won't see another inflation bubble but everything will stabilize....one can hope