The cost to fill a tank of gas is one of the single biggest expenses most families have aside from the cost of housing. When the cost of gas goes up, it puts a strain on our bank accounts, and when it falls it's a small reprieve.
So, long term, the cost of gas and oil is very important to the economy, and for the past decade the cost has been moving higher. The good news is that demand for oil has been falling, U.S. production is rising, and alternatives are becoming a reality. With those facts in mind, here are the three biggest reasons gasoline won't move much higher and why I think we'll never see $5 per gallon at the pump.
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