Fuel Prices Poised to Drop

The prices of petroleum-based fuels have been dropping, and are likely to drop even further in the future. Energy consultant Philip Verleger was quoted in a Seattle Times article yesterday that $15 per barrel oil is a possibility within the next nine months, which would traslate into $1.15/gal for gasoline in the U.S. Mr. Verleger is the same energy consultant whose lone voice a few years ago predicted oil prices would soar. He was right then and hopefully he will be right again. The Humble Patriot says go ahead and buy that Ford Excursion and stomp on the pedal!