Demanding a Supply: As Oil Prices Drop, What Does This Mean for Drivers?

It’s certainly no secret that more people are looking for alternatives to having to get behind the wheel of their own personal vehicles and drive. Increasingly so, those who travel are utilizing auto transport services while those who have to commute back and forth to work are choosing instead to walk, bike, run or carpool. Even the bus, which was once considered something that only those without cars took, are now struggling to accommodate all of the new riders who simply refuse to drive their cars because of the cost of gas.

According to CNN Money via Yahoo News,

While oil use in emerging economies such as China and India continue to increase rapidly, the United States still uses nearly three times as much oil as China, the second largest crude consumer, according to the CIA’s world fact book. A dip in U.S. demand can have an amplified effect on the oil market.

The cost of oil seems to be dependent upon the strength of the U.S. dollar. As the dollar increases in strength, it helps to bring the price of oil down. But even as the price of oil has decreased over the past few weeks (with the price of gas actually going down during the middle of the summer), does this mean that people will suddenly stop using car shipping services, taking buses, walking and go back to the days of driving their SUVs around carelessly? Probably not. In order to get see people flooding the gas stations, packing up for long road trips, gas would probably have to fall down to $2 a gallon (or at least in that price range). Let’s just hope, however, that the oil prices continue to decrease. Not only this, but if they do continue in this trend, let’s hope that we can be smart about it and not lose all that this gas crisis has taught us about unnecessary trips to places that we can walk or ride a bike instead.

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