Gas Falling More Than a Penny a Day(How low will it go?)

CNN MONEY ^ | November 21, 2005 | staff

[kellynla]

NEW YORK (CNN) - Prices at the pump fell more than 18 cents over the past two weeks, continuing a 10-week downward slide, according to a survey published Sunday.

The Lundberg Survey of gasoline stations nationwide found the average price of a gallon of self-serve regular was $2.24 on Nov. 18, down from $2.43 on Nov. 4.

That's down 77 cents from an all-time high on Sept. 9, in the wake of Hurricane Katrina.

According to AAA's "Daily Fuel Gauge Report," a nationwide average price for regular unleaded fell to $2.21 a gallon Monday. The price is down 28 percent from the record high of $3.057 reached on Labor Day.

Diesel also fell to $2.678 and is down 56 cents during the last month.

Publisher Trilby Lundberg said more refineries that were damaged by Katrina, or later by Hurricane Rita, have been restored, easing prices. Also, lower crude oil prices have led retailers to drop their prices.

"There is still some room" for pump prices to fall in the near future, although any further drops would likely "be modest," Lundberg said.

The price is still 28 cents higher than it was one year ago.

The lowest price the survey found was in Wichita, Kan., where a gallon of self-serve regular cost an average of $1.94; the highest was in Honolulu, at $2.64.

Here are average prices of a gallon of self-serve regular in some other cities: Atlanta - $2.09; Washington - $2.31; St. Louis - $1.97; Salt Lake City - $2.06; Detroit - $2.07; San Francisco - $2.45; Houston - $2.22; Philadelphia - $2.23

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[kellynla]

"Average price is $2.24 a gallon, down 77 cents from record high, according to Lundberg Survey."

[pissant]

It will be under two bucks before Christmas.

[wagglebee]

I paid $1.97 yesterday. This has got to have the left worried, they were all excited about $5 a gallon and how it would hurt Bush.

[kellynla]

$2.29 a gallon Orange County, CA
Do we have a gas war in the works?

[section9]

"Peak Oil" my hindquarters. Law of Supply and Demand is more like it. Everyone is pumping and refining oil at full tilt and people are driving less to conserve energy and cash. The result?

Lower fuel costs.

HALLIBBURRTONNNNN!!!!!!!!!!

BTW, this is gonna kill the libs, but watch Bush's poll numbers start creeping up for no apparent reason.

Be Seeing You,

Chris

[azhenfud]

http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html

[kellynla]

but do you remember .32 a gallon?
when you would buy a buck's worth of gas and take out your girlfrind??? LOL

[pissant]

Damn, WB, where the heck do you live? I paid 2.33 yesrterday!

[azhenfud]

$2.17 9/10 regular.

[kellynla]

Gas Buddy is my friend. LOL
http://www.gasbuddy.com

[Pete'sWife]

I remember 28.9 for a gallon of regular. I could fill my tank for about $5.00.

Of course, I was making about $125.00/week...

[clee1]

Filled up last night for $2.04 a gallon in North GA.

[pissant]

Damn, I hate liberals. Not only for being traitorous scum, but for being so freaking ignorant of reality.

[Mamzelle]

Bought some for $1.97, then saw it elsewhere for $2.05 all the way up to $2.19--(rural mountainous south).

Disparities of price between gas stations--?

[clee1]

No, but I clearly remember $.50 a gallon.

[Samwise]

I just paid $1.91 here. I told Hubby that I was going to call a girlfriend and ask if this was Bush's fault. He suggested that I don't.

[caver]

$1.94 in central Indiana

[babydoll22]

$ 1.95 in NC

[pissant]

I do remember prices similar to that. Unfortunately, I was too young to drive. And, BTW, adjusted for inflation, the $1.35 I was paying a couple years ago was even a better deal.

[azhenfud]

"but do you remember .32 a gallon?"

Yes sold it for 38 cents for "high test" - and 17 cents a gallon for kero. Of course pepsi cola bottles were 2 cents apiece returned, too, and gubmint mandated menial wage was $1.75 hour!