Posted on 10/12/2008 1:51:33 PM PDT by Sub-Driver
U.S. gasoline price marks biggest drop ever -survey Sun Oct 12, 2008 4:04pm EDT
By Ilaina Jonas
NEW YORK, Oct 12 (Reuters) - The average price of a gallon of gasoline in the United States recorded its largest drop ever as consumer demand continued to wane and oil prices slid, a prominent industry analyst said on Sunday.
The national average price for self-serve, regular unleaded gas fell 35.03 cents to $3.3079 a gallon on Oct. 10 from $3.6582 two weeks earlier, according to the nationwide Lundberg Survey.
It was the lowest national average price since March 21, 2008. Since peaking at $4.1124 on July 11, the average cost of a gallon of gas has receded by 80.45 cents. Diesel fuel fell 21 cents to $3.95 a gallon, the first time since March that it has been below $4.00 a gallon.
"Plummeting oil prices and caving gasoline demand have combined to bring the biggest retail gasoline price cut in the history of the market," Trilby Lundberg, who compiles the survey, said in an interview. "We've been doing this 58 years. This is truly the biggest price drop."
(Excerpt) Read more at reuters.com ...
3.299 for regular at Velaro here in Pine Island, NY.
Prices around here range from $2.83 to $3.49 for unleaded regular.
Now that is funny. Unfortunately, it is quite likely to be the case if the socialists take over in Nov.
Slide, Baby, Slide!
2.86 in San Antonio
as consumer demand continued to wane
I don’t see the reduction in vehicles on the roadways I travel but it is nice to the prices falling. In my trips I’ll see 50 cents or so difference in the price in a 300 mile stretch.
Actually there are conspirists that say it happens every election to sway the vote. I know some.
$2.99 35 miles NW of Austin. I noticed it was $283.9 in Cedar Park
3.80 in Arugula’s Chitcagoland (no clue how much higher in the city itself).
Why would gasoline demand be "caving?" At least in any degree proportionate to the price drop. Answer: it's not. It's just another palatable lie from the oil industry.
And regardless of how radically gasoline is dropping, it has to be considered in light of the recent run-up in prices, which was nothing short of extortionist.
So, it does happen every election. But, it's like that joke that says we need more pirates to counter global warming, because global warming has increased as the number of pirates have declined.
$2.61/9 Friday in Springfield MO Sam’s Club. Probably lower today. In Mountain Home, Ar it went from $3.25 to $2.96 in two days.
this gas price drop IS the tax cut which is going to bring back the economy. No more ‘stimulus’ spending, just let the damn gas prices go down along with food prices by killing off that boondoggle of corn-burned ethanol.
Whoever the next President is, he could do well by simply getting the hell out of the way and letting the economy recover without blowing a bigger hole in the deficit.
They have NOT dropped here in NC.
I had discussions last year with folk who insisted that gas prices were the way the market worked and of course they needed to raise the prices to cover future purchases.
Well, me buckos, the price of oil is down by 80%. We are still paying only 40cents less than when it was 140/barrel.
I don’t want to hear it.
Just those evil oil companies manipulating prices again.
Hey, I kinda liked goo!
I paid $2.53 at WalMart in OKC yesterday.
Believe me, I understand the nuttiness of it but some folks are wired different. They think everything is a conspiracy.
$2.46 this morning in S. Okc
Central Missouri dropped to $2.89 on Friday. Also was told by a friend living near Lake of the Ozarks that gas was $2.73 and one place was $2.69 per a radio report but not verified.
Still a long way to go to get back to one year ago. Took a trip from Missouri to South Ga. Paid an average of $2.53 per gallon. Heading back that way next week for vacation. What kind of prices can we expect? Are there still lines and shortages?
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