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September 13, 2005

Lower gas prices expected

Topics: National News

Is it really possible that greed is catching up with the oil traders, and that they're actually worried that they may have stiffed the public just a little too much?

Gasoline prices have gotten high enough that oil traders are beginning to worry that demand will slacken.

Crude oil fell another 74 cents yesterday on the New York Mercantile Exchange to end at $63.34 per barrel. Traders said Hurricane Katrina's impact on prices is beginning to run its course.

"The sentiment has changed from worries over supply to worries over demand," said Fimat USA analyst John Kilduff. He said oil's high retail price is straining U.S. and Asian markets.

Happy the day when we have an alternative to high oil prices fueled by speculators and middle-men robber barons.

Posted by Richard at September 13, 2005 6:17 AM

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