Market Forces Acting Against the Consumer

Recently, many may have noticed the sudden decline in gas prices. Most people think that this is awesome; prices could be back down to what they were when I personally started driving. Many would love to go to the pump and see $1.20 up on the board. In reality though, this isn't going to happen. Two countries, Venezuela and Egypt have just raised the price per barrel of oil they are going to export. Also, they are cutting back on how much oil they export because of the surplus. OPEC has also decided to raise the standard price of oil to 18 dollars a barrel by the end of the month. This is a case where the surplus is going to hurt the consumers. Market forces are driving the price of oil up and the quantity suplied down.