Community | December 08, 2008 | 30 comments

Gas at lowest price in nearly 5 years

source: http://biz.yahoo.com/ap/081207/gas_prices.html

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InformedTexan
Survey shows price of gas plummeting 22 cents a gallon to lowest point in nearly 5 years

CAMARILLO, Calif. (AP) -- The average price of U.S. gasoline fell 22 cents a gallon during the past two weeks, bringing it to its lowest level in nearly five years, according to a national survey released Sunday.

The average price of regular gasoline Friday was $1.75 a gallon, oil industry analyst Trilby Lundberg said. The price of mid-grade was $1.90 a gallon and the price of premium was $2.02 a gallon.

The last time gas was cheaper was on March 2004, Lundberg said, when the national average for regular was $1.74 a gallon. The all-time high was on July 11, 2008, when the price peaked at $4.11 a gallon.

Of cities surveyed, the nation's lowest price was $1.46 in Cheyenne, Wyo. The highest was $2.54 in Anchorage, Alaska, and the highest in the continental United States was $2.10 on New York's Long Island.
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30 comments // Gas at lowest price in nearly 5 years

  • motokoinversailles
  • UWAZell
    • 0
      UWAZell  

    • I was amazed today when i noticed that unleaded petrol is .99 a litre [Australia]... lets hope they remain this low for quite some time... make that a long time.

    • 3 years ago
  • ultravphunter
    • 0
      ultravphunter  

    • I'm actually thinking about getting some gas cans just so when gas gets ridiculous again, I'm ready.

      Or I should just get on my bike a little more often...

    • 3 years ago
  • UrbanGypsy
    • 0
      UrbanGypsy  

    • The reason why gas has dropped is because we have an ingoing president who isn't friendly to oil companies coming to Washington in January. They're lowering the prices because they will soon find themselves competing with alternative fuels that are much cheaper and cleaner. Its all about competition.

    • 3 years ago
  • thorstein
  • Elevator
    • 0
      Elevator  

    • Ah yes the good side of depressions - low prices!

      Now if only the Damn government would stop trying to inflate them! Stop you fools your makin us poorer!

    • 3 years ago
  • DreSandoval
  • gnossos
    • 0
      gnossos  

    • It is crazy that everyone was freaking out so much about gas just a few months ago and now it's already down this low. It's great, but I'm not gonna get used to it.

    • 3 years ago
  • Bwittany
  • JohnA
  • BFAM_RVS
    • 0
      BFAM_RVS  

    • Something really positive has taken place during the second half of 2008...I do hope it continues into 2009 and beyond....

    • 3 years ago
  • EColi
  • stopnoise
    • 0
      stopnoise  

    • Here we go again. Nothing about pollution, nothing about all the lives that have been lost, nothing about the war that it causes. Let's just go back to polluting again and forget about it.

    • 3 years ago
  • hallcrash2000
  • islek
    • 0
      islek  

    • If gas is at $4 per gallon, people complain. When gas prices drop back to $1.50 per gallon, people complain. Yes, there are pros and cons to everything, but I'm sick of the whining. The way I see it, hopefully the many people suffering during this tough economic time can afford to commute to their jobs (if they still have them) and heat their homes. Each little bit will help right now.

    • 3 years ago
  • _M_I_K_E_
    • 0
      _M_I_K_E_  

    • It's funny, when gas was $4gal people I talked to said that" all they had to do to lower gas prices was increase the supply and the prices will go down" and I said "no! the oil market is a cartel (OPEC) and a fixed market they collude on prices and how much they will supply. So when everyone needs gas in the summer they rise the price yet still meeting the demand and meeting their responsibility to the shareholders."and when I bring the topic to the people who doubted me I say "Now look oil prices are low imagine that because if they sold it a $4gal in a recession they wouldn't make any money and people would find alternatives to driving" Then I finish with a good ole "BOO -YAH" or "IN YO FACE" and then they walk away crying knowing I was right the whole time.

    • 3 years ago
  • jh64487
    • 0
      jh64487  

    • we all know gas prices are basically controlled by the production companies. that was proven beyond a shadow of a doubt by hurricane ike.

      So what happens when Obama steps into office and the gas prices inexplicably spike? where does his public confidence go?

      yea...bet on it.

    • 3 years ago
  • RCS
    • 0
      RCS  

    • Duh, of course, gasoline and oil prices have plummeted. It looks like the whole world could be spiraling into a recession. That fact alone is going to depress oil prices.

      This is the perfect time to raise the gas tax and let all the owners of SUV's and other gas-guzzling vehicles, who helped get us into this energy mess in the first place, help fund the public transportation and alternative energy programmes that we need to get us out of it.

    • 3 years ago
  • eldamon
    • 0
      eldamon  

    • Did the oil companies finally see the handwriting on the wall? Or more likely they realized things got a little out of hand and they're trying to weaken the backlash of investigations, windfall taxes and electric cars.

    • 3 years ago
  • JayBforthewin
  • 1percent
  • commandercool
    • 0
      commandercool  
    • 1percent:

      I completely agree with you that riding a bike is way better than driving a car, but the fact of the matter is, most people resort to cars (including me), because of the lack of options, the distance to my workplace, and the lack of transportation infrastructure. I live in Toronto, and to get to work, i have the option of: highway, or ...... stay home. The train doesn't go to where i work, the subway doesn't go there either, if i took buses it would take me a week, and if i biked, it would take me a month... As much as i would love to ditch my car and use public transport, there is not enough investment in it. It just straight up sucks.

    • 3 years ago
  • krush_productions
  • diode
  • rickm8
  • arcticspirit
  • krush_productions
    • 0
      krush_productions  

    • I think you have a good point Xomeron. While gas is cheaper now compared to 5 years ago, they are to totally going to raise them again when the economy is "fixed".

    • 3 years ago
  • Xomeron
    • 0
      Xomeron  

    • You know how, before a title wave, the water always goes back out before it comes in? Just watch, and fill up your gas cans.

    • 3 years ago
  • AutifK
  • jh64487
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