On the recordSeptember 26, 2006
You are talking about OPEC and the price of gasoline. Gasoline in July was $3-plus a gallon. Can you name one thing that has changed between July and now as it relates to the world situation that would make gasoline come down? The uncertainty actually with regard to Iran and other oil producing countries is more now than it was then. The only thing that has changed is we are closer to November 7th. No other factor has changed. And yet we see a dramatic reduction in the last couple weeks in gasoline prices. But the underlying factors are still there. All the uncertainty about the oil producing countries, whether it be Iraq or the situation in the Middle East, is the same as it was in July. It is interesting, isn't it?
Source
govinfo.gov
