Oil Prices To Drop Below $40 By End Of Year?

Oil prices keep coming down, making OPEC and other oil exporting nations nervous. Some are predicting oil could fall below $40 per barrel by year's end.

Oil tumbled below $44 a barrel Thursday and the average gallon of gasoline is now less than $1.80 nationally, both four year lows.

Part of the reason gasoline prices have fallen so low is that many people no longer have jobs to drive to and fewer people have money to spend shopping. Gasoline futures fell below a dollar a gallon.

Prices at the pump continued to decline, falling 1.4 cents overnight to $1.789, according to auto club AAA, the Oil Price Information Service and Wright Express. That price is down 60.2 cents from just last month.

On the way home from work this afternoon I saw Regular selling for $1.67 per gallon. That's about $2.50 per gallon less than during the height this past summer.

Even with the lower gas prices neither Deb or I will be driving any more than we have as we've always been chea...uh...frugal.

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