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Oil Prices Plunge – and Could Bring Relief at the Pump

Threat of new global recession and lowered demand.

by on Aug.05, 2011

Crude oil prices have plunged but it remains to be seen how fast consumers will reap the benefit.

You may be out of work but at least you may be able to save money when you fill up the tank to drive to your next job interview.

Crude prices continued to slip on Friday, with some markets slipping to barely $86 a barrel from the year’s $115 peak set in May.  That reflects increasing jitters about the economy both here and abroad – such fears driving Wall Street traders into a frenzy, on Thursday, with a 512-point fall on the Dow Jones Index, the ninth-worst ever.

For the oil industry, the possibility of a double-dip recession raises concerns about demand for petroleum, both for manufacturing and for transportation purposes.  With the U.S. economy stuck in the doldrums there has been a steady decline, in recent months in the number of miles American motorists have been clocking.

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Declining oil prices don’t always – or immediately — result in lower payments at the pump, though industry analysts say that wholesale prices – what gasoline retailers are charged – have dipped by as much as a dime in recent weeks.


Even Honda Feels Recession’s Pinch

Hybrids, high-mileage offerings can't offset global auto meltdown.

by on Feb.02, 2009

Honda needs a little Insight

Honda needs a little Insight

Nobody ever suggests that Honda isn’t anything but well run company, but even the best automakers can’t seem to escape the fallout from the plunge in global auto sales, which has left even the Japanese makers arch-rival, Toyota, struggling for footing.

The rating agency Standard & Poors suggested Monday that investors holding American depositary receipts, representing shares in Honda, might want to dump. Such rude comments are usually reserved for American companies like Ford Motor Co. or General Motors Corp., or mercurial European brands with stocks that go up and down like yo-yos.

Nevertheless, Standard & Poors noted that Honda had just cut its sales and profit outlook for fiscal year 2009, which ends March 31. Part of the reason for S&P’s gloomy recommendation was the belief that the market for new cars in Japan is no better than in the U.S.