Continuous decrease in gasoline price

It reported that U.S. gasoline prices continued to fall, in some states, it even has dropped to $ 3 / gallon or less. Declining of gasoline prices is undoubtedly good news, but falling oil prices also reflect the weak economy. Recalling the last financial crisis, economic recession also reduced the demand for gasoline. Depression has been far away from us, but its negative impact is still pulling down the price of gasoline.

In 2004, the United States reached its peak after driving has started to decline. According to data in 2011, the drivers driving an average mileage of 12,492 miles during decreasing of 8.9% of the peak. Study analyzed that the mileage decline occurs for several reasons, including the result of the new technology that makes it easier to work at home, accelerated aging, so that more elderly people willing to use public transport , more young people postpone the driving test .

In addition to the above reasons,, promotion of more hybrid fuel and electric cars on the market is another important reason for decline in gasoline prices. It remains to be observed whether lower demand for gasoline effects the price, but the decrease in demand has prompted the current decline in gasoline prices.

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