Oil is now cheaper than the barrel it comes in

oil-prices

Gas prices should remain low for a while thanks to the glut of oil on the world market. As this video from The Independent shows, the falling values now mean that a barrel of crude is less expensive than some surprising items – including a drum to transport it in.

As of this writing, West Texas Intermediate and Brent crude, which are two oil commodity benchmarks, both trade for around $30 a barrel. According to the video, the drums can cost $99 each online, which means they are over three times more expensive than the oil. The Independent also compares the price of the cheap crude with large pizzas and Perrier water.

We found a few of our own interesting comparisons for gasoline. The latest AAA’ Daily Fuel Gauge Report indicates that $1.88 is the current US average for a gallon of gas. Using the most recently available national figures from the Bureau of Labor Statistics, pumping a gallon of fuel into your car is significantly cheaper than a gallon of milk at $3.30, a dozen eggs at $2.66, or even a pound of coffee at $4.41. Enjoy the inexpensive trips to the gas station while they last.

[Source: Autoblog]

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