A break for consumers

A break for consumers

Kansas City Star: Oil prices are plummeting around the globe, down 38 percent since July. It’s one of the few upbeat developments right now for American consumers.

Back in July the cost of oil topped $147 a barrel, and some feared it could surge to $200 or more. But on Tuesday it was barely over $91 a barrel.

Motorists across the country are paying less at the pump than earlier this summer.

Farmers and large trucking companies are shelling out less for diesel fuel. A gallon that cost $4.85 in mid-July had fallen to $4.10 this week, even after Hurricane Ike.

Airlines aren’t paying as much now for jet fuel as they did earlier this summer.

But there are also some drawbacks to falling oil prices.

Energy experts worry that Americans may be encouraged to resume their gas-guzzling ways. Consumers ought to continue conserving gasoline and purchasing more fuel-efficient vehicles. After all, the dip in U.S. gasoline demand this summer quickly helped lower oil prices.