Oct 26 2008
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Guess who got their gas for $2.23 today? That’s right, this guy.
In fact, gasoline is now about a penny cheaper than it was a year ago, and about $1.50 less than it was when it peaked earlier this year. All in all it’s been the biggest decline in retail gas pricing ever over a two week period.
“The drop is unprecedented,” said Trilby Lundberg, whose survey tracks gas prices in the United States. “It was dictated by the crash in crude oil prices and deepened powerfully by falling U.S. gasoline demand.”
Despite threats by OPEC to cut production to combat the diving prices, oil settled down nearly $4 a barrel on Friday most likely due to increasing fears of a global economic recession.
“The even weaker economy now suggests that despite a price crash on the street … it is still probably not enough to inspire any strong comeback in demand any time soon,” Lundberg said.
As long as it stays this way until we move in December. I certainly wasn’t looking forward to 1,300 miles @ $4.00+ a gallon…
Yikes I don’t blame you. Where you moving to?
Wholly Molly! It’s not that expensive around here and we complain. Woo hoo.
Keep those Obama poll results moving upwards - it’s doing wonders for my economy too. Our gas prices are normally double what the US pay (even when you were at $4 a gallon), but believe it or not, your dollar is getting stronger. I was getting less than 6 Swedish kronor to the dollar about 2 months back, now it’s back up to 8. I have a vested interest in getting the US economy back on its feet! :)
you may be freezing your butt off in ohio, but at least you’re not paying $3.50 a gallon! i can’t even remember the last time gas was under $3.00 here!
@katieanne - Me too lol, here’s to hoping it continues.
@Rickkane - Ouch, fair enough… grass is always greener on the other side!