Truemors
is reporting from
Member
NP Rank:
NP Rank:
Gasoline Price Makes Biggest Drop Ever
Share: 
by Terri Potratz | October 12, 2008 at 07:37 pm
186 views | 4 Recommendations | 2 comments
Videos
Photos
The average rate for a gallon of gasoline in the US fell drastically, as the largest drop on record. Consumer demand, falling oil prices and the worldwide financial crisis have all driven the price of gas at the pump to fall dramatically, reports surveyor Trilby Lundberg.
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.
Traveling by car has also waned recently, with a drop of about 3.6% less miles being driven.
Lundberg predicts that the price of gasoline could fall as low as $3 a gallon by December.
I hope this trend makes its way up to Canada, where we continue to get gouged at the pump with high gas prices.
Related NowPublic.com News:
NYMEX Crude Oil Futures Contract Made a New Low of $86.05 Yesterday
What is NowPublic?
NowPublic lets people work together to cover news events around the world.
Crowd Power
Edmund Jenks
Los Angeles, California, United States
Rum Soaked Shreddie
Calgary, Canada
erichews
Richmond, Virginia, United States
debildeluxe
Germanygalipachi
Dallas, Texas, United States
Most RecentMost Recommended Comments (2)
at 19:49 on October 12th, 2008
Terri Potratz, I like this story. It's good stuff.
it went down to 3.56 here
it's amazing how it used to think nothing of going up a dime at a time but when the price of crude came down, the drop in gas prices was 1-2 cents a week MAYBE.
at 17:54 on October 13th, 2008
Terri Potratz, I like this story. It's good stuff.