Date of this Version
Cornhusker Economics, September 16, 2015, agecon.unl.edu/cornhuskereconomics
The price of crude oil took a steep dive last year, plunging from $95 per barrel just a year ago to the low $40-range by December, where they remain today (Figure 1). Goldman Sachs has recently suggested that it could drop further, even into the $20 range. Low oil prices mean low gasoline and ethanol prices.