Lower oil prices good for consumers, but are they good for countries where its the chief export?

  • Lower oil prices are good for the countries where it is the chief export.

    It does seem that when oil prices go up that countries where it is the chief export would benefit, but this is not always the case. When oil prices go up, consumers are less likely to buy more oil. Also that higher price does not always go to the country it comes from but also to the companies that sell it.

  • Yes, it can be good for chief exporters.

    It seems to me that high prices for oil would reduce the amount of gasoline people could afford to purchase, which would cause them to conserve their gasoline for only necessary trips. Low gasoline prices allow people to contemplate spending vacation time and driving to their destinations, or even to take short day trips for their enjoyment on days off.

  • No, will not be good for Countries

    I think that with oil prices going down and making it easier for the consumer, it will definitely have a affect on Countries that rely on it. I don't think it will be a huge impact but obviously if the prices go down then they will get less. It is so overprices for the past 2 years that I think they can afford for it to be down for a while because I am sure it will not last.

  • Lower oil prices do not benefit exporters.

    Lower oil prices benefit everyone, since so much depends on it. Consumers will be able to buy more for less money, because they won't be paying as much for oil. However, countries that export oil will make less money from oil sales. The consumers in exporting countries will still benefit from the lower prices, offsetting some of the economic damage.

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