Worldwide supply and demand (real and perceived).
No conspiracy.
Well said!
90 % of “ - - - Worldwide supply - - - “ is controlled directly by foreign governments, or indirectly by State-owned oil companies.
The price is where the demand rises up to meet the supply. When demand goes down the price follows. Less demand means less economic productivity is being predicted.
With the price of feeder stock (=crude oil) headed South, a slowdown in the economy is indicated. Good for the gasoline consumer, bad for those who already have jobs and those that are looking for jobs.
When the price of feeder stock goes up, the gasoline consumer will pay more to travel to his pace of work, and there will be more jobs, jobs, jobs.
Supply and Demand plus “the invisible hand” equals the time-honored FREE MARKET!