Gas Prices Fall Below Prices From A Year Ago

• October 27, 2008

Oil is down to $65/barrel, and with that drop in price comes a drop in gas prices.

COLUMBUS, Ohio (AP) — Crude prices tumbled Friday and a gallon of gasoline fell below year-ago levels for the first time in 2008, even as OPEC announced a huge production cut in an attempt to halt the declines.
Crude prices have now fallen 56 percent from the highs reached in July, and more than $41 per barrel in just the last month.

It’s almost like gas prices are dictated by the forces of supply and demand and not the evil machinations of mustache-twirling black hats in the oil industry. Or something.
By the way, the people who gripe every spring when demand for oil begins to spike for the summer season and gas prices go up and demand that the oil industry be punished with things like windfall profits taxes? If they had gotten their way this last year we wouldn’t be seeing these lower prices now. The oil industry would be keeping gas prices high in order to pay off those massive new taxes.
Meaning that, in effect, we’d be paying those higher taxes by paying more for gasoline than we’d otherwise have to.
Think about that the next time you hear someone carping about gas prices.

Tags: Politics

http://ndgoon.blogspot.com/ goon

I am all for cheap gas and I don’t feel sorry that Iran and some of the other countries are suffering because they are now hurting because of the price of gas.

That is even more reason to drill here, drill now, save at the pump. Of course under NOBAMA they will want us to put a propeller on our hats.
http://northerngleaner.blogspot.com/ Gene

I’m the Other Gene.

HMMMM
Gene

President Bush has done a great job recently reducing the gas prices and he is to be lauded for this!
http://proof-proofpositive.blogspot.com/ proof_positive

I’m in Deep East Texas

Y’all ever decide the join the Union, there are other benefits as well! Heh.
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
Neiman

$3.19 a gallon, Northern California
welder4

Pelosi had nothing to do with the price of gas coming down, the market works and they seen right away they could not sell it to well at 4 bucks a gallon , yes we need alternatives but in the mean time we need to drill every where and if Pelosi’s head is in the way drill there also . Right now if GM and Chrysler would spend the money they spend on exotic cars and 1,000 hp motor cycles then they could come up with a car that would hold a family very comfy and get 50 to 60 MPG . they would sell like hot cakes and the auto industry would be on top again. One can only hope they have a break through and do that soon . Actually GM and Chrysler is way ahead in the plug in cars and have a 2009 date set for release of these 40 to 150 mile range cars and with the gas generator at 100 mpg to charge the battery . Bush had nothing to do with the price going up nor did he have anything to do with them falling .
welder4

Pelosi had nothing to do with the price of gas coming down, the market works and they seen right away they could not sell it to well at 4 bucks a gallon , yes we need alternatives but in the mean time we need to drill every where and if Pelosi’s head is in the way drill there also . Right now if GM and Chrysler would spend the money they spend on exotic cars and 1,000 hp motor cycles then they could come up with a car that would hold a family very comfy and get 50 to 60 MPG . they would sell like hot cakes and the auto industry would be on top again. One can only hope they have a break through and do that soon . Actually GM and Chrysler is way ahead in the plug in cars and have a 2009 date set for release of these 40 to 150 mile range cars and with the gas generator at 100 mpg to charge the battery . Bush had nothing to do with the price going up nor did he have anything to do with them falling .
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
Jackass Jimmy

That is even more reason to drill here, drill now, save at the pump. Of course under NOBAMA they will want us to put a propeller on our hats.

Not only that, but he’ll force those that he feels can afford more propellers to buy them for those who he feels cannot.
RebTex

DURN IT!
We’re 2.89.
And I’m in Deep East Texas…..not too very far from Spindletop…maybe about 85 miles.
Well…I’m sure the break helps Ya’ll.
Enjoy!
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
http://ndgoon.blogspot.com/ goon

See, the Pelosi congress has finally kept their promise of lowering the price of gas. And it only cost me 1/3 of the equity in my house and 1/2 of my 401k.

Of course these morons will blame bush…
http://www.sayanythingblog.com/ electnixon

$2.10 this morning in Kansas City.
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
http://bhbbmx.bravehost.com/ Andrew Bucior

welder4 has a good point. Our government is not headed by just one man alone. It bothers me that there are so many comments on this page that lead me to believe most of these people believe Bush is the only person responsible for gas prices. Yes he has an impact, but there are several other factors involved.
halfacarafe

See, the Pelosi congress has finally kept their promise of lowering the price of gas. And it only cost me 1/3 of the equity in my house and 1/2 of my 401k.
welder4

Pelosi had nothing to do with the price of gas coming down, the market works and they seen right away they could not sell it to well at 4 bucks a gallon , yes we need alternatives but in the mean time we need to drill every where and if Pelosi’s head is in the way drill there also . Right now if GM and Chrysler would spend the money they spend on exotic cars and 1,000 hp motor cycles then they could come up with a car that would hold a family very comfy and get 50 to 60 MPG . they would sell like hot cakes and the auto industry would be on top again. One can only hope they have a break through and do that soon . Actually GM and Chrysler is way ahead in the plug in cars and have a 2009 date set for release of these 40 to 150 mile range cars and with the gas generator at 100 mpg to charge the battery . Bush had nothing to do with the price going up nor did he have anything to do with them falling .
di butler

It’s $2.39 here in ATL.
RebTex

PLEASE tell me Ya’lls gas is more than $2.25 a gallon!
Jerry

Bush gets the credit, right??

He was blamed when the prices were high?..
How bout a little credit for bringing them down??

Oh…. Forgot. Doesn’t work that way..
http://proof-proofpositive.blogspot.com/ proof_positive

PLEASE tell me Ya’lls gas is more than $2.25 a gallon!

I filled up tonight for $2.29/ gal.
There was a place selling it for $2.19, but I didn’t want to wait for a pump.
http://claude.betancourt.us/blog/ Claude

I demand hearings!!! How’s Exxon going to make a profit now????
Don the Plumber

You heard it here first–gas prices will go up again after the election, because they are being manipulated for political purposes by Bush and Cheney’s cronies. If you don’t believe they are manipulated, explain why diesel is cheaper than gasoline everywhere else in the world but here.
RebTex

DURN IT!
We’re 2.89.
And I’m in Deep East Texas…..not too very far from Spindletop…maybe about 85 miles.
Well…I’m sure the break helps Ya’ll.
Enjoy!
Neiman

$3.19 a gallon, Northern California

And we live 15 miles from most refineries in this area. But, California sucks it up for Democrat environmental nonsense and high taxes.

SayAnythingBlog.com

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