`...@...'
2012-04-12 12:05:49 UTC
The price of gas is determined primarily by the price of oil, which
has fallen recently due to questions surrounding the strength of the
U.S. recovery, as well as news that Iran will resume talks on its
nuclear program. Rising OPEC production and a growing supply of crude
in the U.S. have also helped dampen oil prices recently. The U.S. is
now producing more than 6 million barrels a day, the most in 12 years.
But with demand at its lowest level since the mid-1990s—and overloaded
pipeline infrastructure unable to move it to refineries quickly—
supplies are building faster than they have in decades.
has fallen recently due to questions surrounding the strength of the
U.S. recovery, as well as news that Iran will resume talks on its
nuclear program. Rising OPEC production and a growing supply of crude
in the U.S. have also helped dampen oil prices recently. The U.S. is
now producing more than 6 million barrels a day, the most in 12 years.
But with demand at its lowest level since the mid-1990s—and overloaded
pipeline infrastructure unable to move it to refineries quickly—
supplies are building faster than they have in decades.