(FinancialHealth.net) – On Monday, the stock market fell dramatically, causing the New York Stock Exchange to suspend trading for 15 minutes. One of the reasons to blame for the decline is the price of oil.
Last week, The Organization of the Petroleum Exporting Countries (OPEC) did not make a deal with its allies, including Russia. The tension between the former soviet country and Saudi Arabia caused oil prices to fall more than 24%:
Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
Brent crude and US West Texas Intermediate crude had their worst day in nearly three decades.
As the price of oil fell, so did our price at the pump. The American Automobile Association says consumers will pay less at the pump than they have since last February. The association predicted the price decrease would last through the winter. The national average, as of Monday evening, was $2.38 per gallon. Even though the markets are taking a beating, cheap gas is something we can all get behind.
~Here’s to Your Financial Health!
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