Here's Why Gasoline Prices are Plunging

Pic of the Day

If you want to understand why gasoline prices have plummeted in recent weeks — and why gasoline futures today plunged to a new low — look no further than the photo above.

It’s a drilling rig in Weld County, Colorado, out on the high plains north of Denver. I spotted it when I was driving to the airport the other day to pick up my daughter. It was really big and lit up like a Christmas tree. So it was impossible to miss.

Both oil and gas production have surged in recen

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