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Originally posted by E-1:
Because oil prices are set by a cartel called OPEC and various multi-billion dollar corporations who are friends with the presidential candidates. It also puts people in a happier mood wherein they are more inclined to travel, and is usually around holiday times or election seasons.

This is a trend we've seen before; dip 25 or 30 cents before shooting back up 75 cents. This is just a much bigger dip to make people all that much happier. Don't worry, it WILL shoot back up.
Crude prices are mostly ruled by investers, OPEC's last attempt to raise prices by cutting production didn't work.

Demand has actually went down, the American consumer did not want to pay $4

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