One of the good things about the weakening economy, at least for us Americans, is that it’s helped to strengthen the Dollar, as compared to other currencies. That, mixed with less demand for gasoline has created the biggest drop ever.
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.
I’ve seen this my area, as I saw local prices as low as $3.25 a gallon—if you paid cash.
Markets have a way of correcting themselves. People react to high prices by buying less, the price goes down. To some extent, this is also what I expect in the banking industry. Things will recover, unless we mess it up.
It’s $2.80 here in Indiana.
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Posted by Holly | October 13, 2008, 9:33 am@Holly: Crazy. The predictions were that we’d have $5.00 a gallon if not more by the end of the year. Instead, we might make $2.00.
Posted by MInTheGap | October 13, 2008, 10:57 amI’m jealous of all of you. Here in NC, we’re still at $3.70 (it was $3.90 just a week ago) – and that’s if you can even FIND gas to begin with. Regular isn’t too hard to find (thank goodness, that’s what I use), but the mid-grade and premium fuels are only at about 1 out of every 10 gas stations.
From what I understand, we’ve got the highest prices in the continental U.S. with prices coming in at $.32 above the national average, even though we’re typically $.10 under. I have no idea what is going on here in North Carolina – I’ve asked around, and while people just tell me we have a shortage, they can’t tell me why it’s NC and no one else.
Posted by Natalie | October 13, 2008, 11:55 amBought gas for 2.79 a gallon the other day outside of Richmond, VA!
Posted by Kari | October 13, 2008, 12:11 pm$2.99 here. Woo hoo!
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Posted by Rachel | October 13, 2008, 8:40 pmMin,
i just say 2.99 a gallon up the street… I nearly drove in to get some, except I had a full tank!
Mrs.MegLogan
Posted by Mrs.MegLogan | October 14, 2008, 6:53 pm