NEW YORK – Forecasters predict that regular-sized barrels of light sweet crude oil will likely continue above $100 through 2008, but big producers have introduced a new $40 “fun size” barrel to create the perception of cheaper oil.
“It worked for candy bars and burgers, why not commodities?” said oil speculator Earl Shale. “People get used to paying a little less for a lot less.”
The new barrels will not reduce prices at the pump, where gas is still sold in the U.S. by the gallon.
“You never know, though,” said Shale. “Folks might like the idea of paying a buck for a liter of gas. It’s all packaging.”
