With crude oil at a 12-year low that means it is now even cheaper than milk.
The one gallon price of West Texas Intermediate crude is nearly equal to just half a gallon of Class III milk. That makes this the lowest ratio since 2004.
Intraday trading Wednesday pushed WTI down to $26.19 a barrel marking the lowest level since May 2003. That is the equivalent to 62 cents a gallon. Also milk futures are being traded at $13.74 per 100 pounds, or $1.18 a gallon.
Submitted January 22, 2016 at 01:47AM by BizBantz http://ift.tt/1WzSurF
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