Sunday, October 12, 2008
Gas on the decline
As we have all seen the price of gasoline has been on a steady decline as hurricane season starts to wind down and the mess down south is starting to be cleaned up. According to a national survey taken last Sunday, gas prices dropped a record level in the last two weeks, falling by more than 35 cents a gallon. The price has now tumbled nearly 87 cents, or 21%, below the record $4.11 set July 17. And it's down about 43 cents from a month ago, but still remains some 49 cents, or 19%, higher from a year ago. As the current economic crisis still unfolds, there is some relief for the working middle-class American, so some pressures can be freed from our minds. Slowly but surely economists still see a steady decrease in the price of gasoline. Oil prices also have been moving sharply lower amid fears that the economic crisis, which has deepened globally, will have a severely damanging effect on demand. Do you think this decline in the price of gasoline has some Americans feeling somewhat more secure in their money situations?
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3 comments:
Gas on the decline? The recent decline in gas prices is something I surely enjoy. Lower prices of gas is just one less thing to worry about. In today's economy I don't think too many people would use the word secure. The recent gas prices decling makes me wonder why were they so high anyway?
While, I dont believe that it makes americans more secure in their financial situation, it allows some of us to breathe a little easier. There for a while, it was almost a second mortgage simply to fill up one vehicle twice a month! I went to the gas station the other day and did something that I never thought I would do again and that was get a half a tank for fifteen bucks. I know it is making my pocket a little happier.
I am definately enjoying the cheaper gas prices. The only thing that worries me is if the upcoming election is the only reason for this. i have a feeling that right when the election hits, we will all see the gas prices hit the roof again. the reason for the high gas prices in the first place is becuase washington does not put any pressure on oil companies. they do as they please.
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