Good News: Oil drops below $40 per barrel!

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This is such good news! Oil prices keep falling and this wills somewhat ease the burden of consumers in the near future. In the midst of the economic crisis, there is this bright spot to look forward to. At least the prices of commodities and inflation won't be rocketing skyward that fast while people skimp and save during the hard times. Here in the Philippines, oil prices are cut almost weekly but to most observers there should be more and deeper price cuts. The sad thing about it is that, some of the commodity prices that went because of the oil price hike in the last few months have not gone down. Hopefully this is just an effect of the Christmas season and things will settle down once the shopping rush is over.