- Thu Jan 15, 2015 2:57 pm
#351076
Working in parts at a Honda dealership the lower oil prices are great. Most people dont realize the advertised $19.99 oil change is to get people in the door to try to upsell them things like tires and brakes. We were losing money on every single one of those oil changes (Thankfully this is only on older cars that don't use the 0-w20), only like 50 cents but when you do a hundred everyday it adds up and eats away at my commission.
Also with premium being down to $2.04 I'm saving quite a bit of money for the 70 miles I drive everyday.
The long term effects on the economy will probably balance out. I'm sure the lower prices will cause layoffs in the oil industry but the lower oil prices help us with everything else. Shipping cost, food cost, and anything else that is transported to its selling point should see a reduction in price since there is less cost in the transportation now. Just my 2cents.