Americans have more money to spend for Christmas or to pay down debt because the price of a barrel of oil is down 30-40%. Here in the U.S., you'll save up to a dollar per gallon compared to about a year ago! How many gallons do you use per month? What good news for families (or anyone) who live close to the red.
One big reason for falling prices is that America, using fracking technology and other vastly improved technologies (like the VorTeq pump), is producing much more oil and gas than just a few years ago.
As more oil goes on the global market, the price goes down. Some market watchers thought OPEC might reduce their output to drive up the price, but that didn't happen at their November meeting. The price of gasoline is expected to stay below $3.00 in 2015.
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