The average price of a gallon of gasoline in the United States recorded its largest drop ever as consumer demand continued to wane and oil prices slid, a prominent industry analyst said on Sunday.
The national average price for self-serve, regular unleaded gas fell 35.03 cents to $3.3079 a gallon on October 10 from $3.6582 two weeks earlier, according to the nationwide Lundberg Survey.
It was the lowest national average price since March 21, 2008. Since peaking at $4.1124 on July 11, the average cost of a gallon of gas has receded by 80.45 cents. Diesel fuel fell 21 cents to $3.95 a gallon, the first time since March that it has been below $4.00 a gallon.
(Source: Reuters)
Join the official YWN WhatsApp status
7 Responses
At least some expenses are getting less !
Here it is $2.79
261.9 in Fort Lee area!!
I would like to wish everyone a gut Yom Tov and a Guten Kvittel. I have a lot of cooking to do.
According to the Nevi’im, baring anything crazy, we should be in the $2.25 per gallon area within a few weeks.
Maybe this is the “good news” the market needs to stabilize?
Which just goes to show how overblown the whole gas-prices issue was in the first place. Now that gas prices have shaved 70 cents in a matter of weeks, are people suddenly excited about the economy and their spending power? No — the psychological and real impact is practically nil. All that complaining was over an extra $20 at the pump; meanwhile we’ve all had some real perspective forced down our throats with the losses of tens or hundreds of thousands of dollars from our retirement savings and the prospect of lost employment. It’s almost embarrassing at this point to think about how much we kvetched over gas prices.
NeveAliza,
We think you woke up on the wrong side of the bed. You know what the poster was saying. Maybe they were saying 261.9 cents per gallon??