Typically, strife in the Middle East means that the price of gas soars.
The Fort Worth Star-Telegram reported that even as the United States launched airstrikes against terrorists in Syria — with the help of some of the Arab states such as Bahrain, Saudi Arabia and the United Arab Emirates — the price at the pump continued to plummet.
As a matter of fact, the national average on Monday had dropped for 16 consecutive days to $3.34 per gallon, the lowest in seven months, according to AAA Oil Information Services. In North Texas, some gas stations were selling a gallon of gas for $2.99 a gallon.
So what gives?
Analysts give a number of reasons for the dropping price of gas: Lower crude oil prices because of the shale drilling boom in Texas and around the country; the seasonal switch to a cheaper winter blend at refineries; and falling demand for gasoline as the public stays home after summer vacations.
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