Will Low Gas Prices Last?

As unbelievable as it seems, the pricing for a barrel of oil has now fallen below $50. The price at the pump throughout the Akron, OH area is between $1.78 and $1.80 per gallon. Here at Barberton Junk Cars, we pay cash for junk cars. As a junk car buyer offering a quick price for a junk car is the norm. To sell a car for cash the only requirements are the vehicle title and an ID. David Shepardson of the Detroit News posted a story: ‘Obama says cheap gas won’t last’ which outlined the following: “President Obama is warning Americans that cheap gas prices won’t last indefinitely, and he’s standing by his support of small, fuel-efficient vehicles. During his Michigan appearance, the the president will tout his administration’s bailout of the U.S. auto industry, which saved at least a million jobs & a critical part of the economy. Obama says folks should enjoy low gas prices, but cautioned that they won’t be around forever. The American people should not believe that … demand for oil by China, India and emerging countries is going to stay flat. Just demographics tell us demand is going to continue to grow, that over the long term it will grow faster than supply.  The Ford plant he visits Wednesday makes fuel-efficient and alternative fuel small cars. Its workforce is on temporary hiatus because those vehicles are not selling well. Oil prices have fallen 40 percent since June — the fastest decline in three decades — as gasoline prices have plummeted to around or below $2 a gallon. Automakers, dealers and suppliers have added more than 400,000 jobs since June 2009 and auto sales hit 16.5 million in 2014 — the best performance since 2006. The final steps marking the government’s exit from the industry, which included the forced bankruptcy of Chrysler and GM, came in December — six years after it began.” The full story is available at this link: http://www.detroitnews.com/story/news/politics/2015/01/06/exclusive-interview-obama-says-cheap-gas-last/21370731/

It seems a bit peculiar how the US has begun massive recovery of domestic oil and the move to electric vehicles in in full force, while the price of oil has dropped to its relatively lowest point. Will be interesting to see what lies ahead. Will pricing of electric vehicles get to a more affordable level?

Barberton Junk Cars is a junk car buyer that pays cash for junk cars 7 days a week throughout the greater Summit County area. Need a price for a junk car in Chapel Hill, Barberton, Bath, or Canal Fulton? To sell a car for cash in Silver Lake, Copley, Clinton or Cuyahoga Falls simply call our junk car buyer @ (330) 732-JUNK. Residents of Fairlawn, Firestone Park, Norton and Monroe Falls are encouraged to visit https://www.barbertonjunkcars.com for a price for a junk car. We are offering free towing of all vehicles (with title) in the areas of Peninsula, Tallmadge, New Franklin and Kenmore, OH. We are available to pick up scrap cars from Firestone Service Centers, Conrad’s locations, transmission shops and Goodyear stores throughout Hudson, Lakemore, Canal Fulton, Silver Lake and Copley’s Midas locations, NTB locations and Monro Muffler & Brake shops. If you have a wrecked car or damaged vehicle in the areas of Rolling Acres, Coventry Township, Springfield Township or the Merriman Valley, call for a price for a junk car today.