Why won't the high prices we pay for wheat and fuel and the many other things be coming down anytime soon? They say it is because of several factors. Sellers like to keep the high prices for as long as they can in order to rake in the bucks, even after the demand has fallen and competiting companies have cut prices. Another reason is the time lag between when companies purchased the items and when they are sold. One more reason is one that America has never dealt with before. Global economies are growing at lightening speed. This growth has caused prices to jump for commodities.
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Don't expect to see any drop in the prices you pay at the pump -- or at the grocery store or anywhere else -- from any decline in the price of commodities. The price of gas at the pump actually climbed to a new high at $3.983 a gallon last week, according to automobile club AAA, even as the price of oil was falling. (And it kept on climbing, to $4 a gallon, on June 8 after a two-day rally in crude oil prices.)
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By
Jim Jubak
I know the prices for just about everything we as a family of 5 need are outrageous. I spend about $80 per week in fuel for my vehicle and I spend almost $700 for groceries per month. Not to mention all of the other things we need monthly to get by. It is no wonder we can't seem to save. Please click the link for more on this, it is quite interesting.
Why High Prices Won't Be Going Anywhere
06-10-2008, 06:58 PM
Why High Prices Won't Be Going Anywhere
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