Average Gas Price is Down to $3.80 (It was $1.80 when Obama took office)

abc ^ | 10/1/2012 | Zunaira Zaki

[tobyhill]

Gas prices are slowly coming down.

The weekly average price of a gallon of regular gas is $3.80, down 2 cents compared to a week ago, according to the Department of Energy. This price is still up 37 cents from a year ago.

[Alberta's Child]

If you plot a graph of gasoline prices over the course of every year since the mid-2000s you'll find a similar pattern almost without exception. Fuel prices rise dramatically in April and May, then fall again in October and November. This is partially due to higher auto usage during the summer months, but also due to the higher refining costs associated with the ethanol mandate that's in place during the summer.

This is why a comparison of fuel prices from the same week or month from one year to the next tells us more than a comparison from week to week or month to month.

[Diogenesis]

Under Obama-the-Undocumented-Moslem-from-Kenya,
the US dead in Afghanistan and the price of gas
have peaked, but the MSM will lie about both.

[gdzla]

A barrel of oil at $90-$95 and a gallon of gas at nearly $4?
Just saying.
Where are all the stories of price gouging at the pump at nauseum like we had when Bush was President?

[Roccus]

$3.959 on Sunday AM, $3.789 today here in north central WV

[Wingy]

$3.519 for BP regular yesterday in Richmond, VA

[Sacajaweau]

Upstate NY....$4.05

[alloysteel]

It’s a trick, people. Prices artificially manipulated somewhat lowere just before election is supposed to make people “forget” just how oppressive gasoline prices in excess of $2.00 per gallon REALLY are.

It is economically feasible to be extracting petroleum in this country for around $80/barrel, and in fact, it is almost equally as feasible to be making kerogen (the primary ingredient of crude oil) from waste organic material for a similar price. In a process called “thermal depolymeriztion”, much of the waste stream (sewage discharge, household trash, industrial waste from processing of organics, even existing trash dumps) could be utilized in formulating new artificial petroleum, which may then be cracked and distilled just like crude pumped out of the ground.

To do this takes energy, which we have in great abundance at the moment, from the new sources of natural gas being released from deep resevoirs not previously accessible, through “fracking”. In fact, this one bright spot in our energy supply economy, may have been what prevented a much earlier and more devastating economic collapse than we are now threatened with.

We have been given a short reprieve. Make the best of it.

[cameraeye]

“...price of a gallon of regular gas is $3.80, down...”

I like when they say, “down” and yet it is through the roof. This play of words only works if the public does not know the truth.I paid $4.15 yesterday in South Eastern CT. Hey, Governor your killing the state with your taxes!

[freedomfiter2]

As the Fedral Reserve Ponzi scheme winds down, $3.80 will seem like a bargain.

[vet7279]

I am convinced we are being conditioned to accept higher gas prices. If the prices simply shot up to $10 per gallon there would be riots but by jumping the prices up by .80 and then down by .30 we rejoice at the lower prices. And on and on it goes.

[ardara]

This story is as predictable as the media having Obama winning the first debate even though the debate has not taken place yet.Romney will win because a sizeable majority NOW know that the media lies throgh their teeth.
November 6 will be the true poll.It will be a great day.
That will be the day the Lord has made and let us then rejoice and be glad.

[Just another Joe]

I just paid $4.00 a gal yesterday in Johnson City, KS.

[jsanders2001]

I predict a gas price of $1.79 a gallon on Nov 6th followed by a price of $4.00 + on Nov 7th...; )

[thackney]

If you plot a graph of gasoline prices over the course of every year since the mid-2000s you'll find a similar pattern almost without exception. Fuel prices rise dramatically in April and May, then fall again in October and November.

Weekly U.S. All Grades All Formulations Retail Gasoline Prices
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=W

[rawcatslyentist]

[Ol' Dan Tucker]

(It was $1.80 when Obama took office)

The average price of gasoline per gallon when Bush took office in was $1.60 and was $4.12 just before he left office.

The average price of gasoline per gallon hovered between $1.00 and $1.20 for 20 years before Bush took office, and has been rising steadily ever since.

True, it did drop dramatically to $1.84 per gallon just before Obama took office and then began to rise again all through his term, but the fact remains that under both Bush and Obama we have paid more for gasoline then we had for the previous 20 years.

See: Historical Gas Price Charts and Gasoline Price History

[Ol' Dan Tucker]

If you plot a graph of gasoline prices over the course of every year since the mid-2000s you'll find a similar pattern almost without exception. Fuel prices rise dramatically in April and May, then fall again in October and November. This is partially due to higher auto usage during the summer months, but also due to the higher refining costs associated with the ethanol mandate that's in place during the summer.

If you plot a graph of gasoline prices for the last 30 or so years you'll see that the average price per gallon of gasoline hovered around $1.00 to $1.20 from 1980 to 2000. Once Bush took office prices began to rise and shot up to $4.12 per gallon in 2008 just before he left office.

As I've pointed out before, the price per gallon did drop dramatically from the historical high of $4.12 under the Bush administration to $1.84 just before Obama took office where it resumed its steady climb to where we are today.

The ebb and flow of gas prices from year to year could be attributed to the reasons you point out, but the historical highs we've been paying under the previous two administrations are for different reasons.

See: Historical Gas Price Charts and Gasoline Price History

[TankerKC]

$3.99₉-4.15₉ here in San Diego.

[AFPhys]

Price is $4.10 here in Central NY State.