NEW YORK (Reuters) - The average U.S. price for a gallon of regular gasoline took its biggest drop since 2008 in the past two weeks, due to lower crude oil prices, a big price drop in pump prices in California and Hurricane Sandy, according to a widely followed survey released on Sunday.
Gasoline prices averaged $3.5454 per gallon on November 2, down 20.75 cents from October 19 when drivers were paying $3.7529 at the pump, Lundberg said.
The decline was the biggest two-week price drop since the survey recorded a 21.9 cents price decline December 5, 2008 due to a crash in petroleum demand during the global recession.
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10 comments:
Cheap gas right before an election? That's odd. lol
I just paid 27 cents a gallon less than I paid one week ago for unleaded plus.
Love it, Obama 2012!
Yes 312 because Obama has a little dial right on the side of his desk in the oval office that he turns at will to control prices.
Or no, maybe the oil companies that evil obama is running out of buisness dropped the prices right before the election
Didn't Obama say the president cannot control gas prices? Funny how it's being reported that the swing states in the election are reporting even less for gas. For example, $2.19 in Ohio. Something smells of backroom favors being offered here. We'll see what happens after the election.
3.19 in North Carolina around noon on 11/5.
Gas was $1.87 when Obummer took office.
That stat, like most stats, is taken out of context.
Gas was ABOVE $3 a gallon for most of Bush's presidency, topping at an avg of $3.98 a gallon in Sept 2008 during his second term. Prices fell from that point to a low of $1.87 right before the election.
The reason fuel prices are going is that the demand for fuel globally has dropped. This is due to a massive decrease in manufacturing.....which is due to a massive decrease in demand for manufactured goods. People may look at this as good news for themselves but the reality is that this is a sign of an ever deepening recession. We are about to crash in a big way but no one wants to see the truth.
7:38, businesses are posting their highest profit margins EVER. businesses are actually doing quite well at the moment.
For the rest of you:
You have no idea how supply/demand works.
And you seem to have short memory. Gas was ~4.10/gallon here in salisbury on September 13, 2008(I bought a car that day which is why I remember). On election day, it was around $2/gallon.
You people cannot be fixed. Youre permanently stupid and just wrong about everything. I cant even read this blog anymore, its filled with uneducated, misguided, self-indulged bigotry.
I used to like reading the comments - kinda like human beings like watching car accidents or any other type of sudden incidents.
Not anymore. I cant do it, the collective opinion and lack of knowledge around here is going to make my head explode.
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