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Oil is now cheaper than the barrel it comes in
autoblog.com
Gas prices should remain low for a while thanks to the glut of oil on the world market. As this video (below) from The Independent shows, the falling values now mean that a barrel of crude is less expensive than some surprising items – including a drum to transport it in.
As of this writing, West Texas Intermediate and Brent crude, which are two oil commodity benchmarks, both trade for around $30 a barrel. According to the video, the drums can cost $99 each online, which means they are over three times more expensive than the oil. The Independent also compares the price of the cheap crude with large pizzas and Perrier water.
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