Low energy prices won't necessarily reduce prices for certain consumers Now that the price of crude oil has sunk to a six-year low, gasoline is much cheaper, but airfares and some home energy bills still seem head-scratchingly high. Why isn't everyone seeing relief?
The cost of jet fuel, for example, has fallen a whopping 43 percent on average worldwide from the price a year ago. Don't rush just yet, though, to book that flight to Fiji. Airfares have barely budged, and in places such as the U.S. Northeast and the United Kingdom, home bills for electricity and heat are as high as ever.
The stubborn prices are prompting stern words from politicians. "It is curious and confounding that [air] ticket prices are sky-high and defying economic gravity," said New York Senator Chuck Schumer last month, urging a federal investigation.
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Poster Comment:
Evidence that we need high speed rail to provide more competition.
