As many of you have noticed around the country, gas prices have dropped a bunch. Like the stock market last week, we haven't seen sub $3 gas prices in a year or more. You would expect cheaper costs for the food companies would equal cheaper food costs, but not so according to this article from CNN. According to the article, once food prices increase, they virtually never go back down...good times...
Tuesday, October 21, 2008
Falling gas prices do not equal cheaper food...
As many of you have noticed around the country, gas prices have dropped a bunch. Like the stock market last week, we haven't seen sub $3 gas prices in a year or more. You would expect cheaper costs for the food companies would equal cheaper food costs, but not so according to this article from CNN. According to the article, once food prices increase, they virtually never go back down...good times...
True that! Food ain't ever coming down.
ReplyDeleteThe funny thing is.
When a barrel of oil was $140, a gallon of 93 octane in NJ was about $4.15.
Now that a barrel is about half it's peak ($70/barrel), a gallon of 93 octane in NJ is $2.99. Not in the lower $2 range.
What the hell guys?!
Exxon/Mobil stock is probably still a good buy.