With the media focusing on the Presidential Race and Wall Street, gas prices has been dropping slowly. The price of crude oil per barrel has been dropping just about everyday. According to AAA gas prices in Texas is $2.89 per gallon and the national average is $3.08. So with these lowering gas prices it's helps ease the pain at the pumps for most American. According to "Good Morning America" financial contributor Mellody Hobson it's all about supply and demand, and it's finally working in our favor. But one thing I don't understand is why did it get so high and drop so fast, for example last years prices didn't change as bad as this year. And this year we saw big increase. Why? Can anyone explain.
3 comments:
I actually went home this weekend and to another college to visit friends. I didn't even realize til I got to my home town how low the gas prices were. I was so stoked. They are under $3.00 in my hometown. Thank goodness.
This has helped me alot because i go home almost every weekend. Now that gas prices are going down, its means puttin in less gas. Lets hope they stay down or keep going down.
I don't understand why gas prices were so high either. I'm always asking why gas isn't cheaper in this area. I would think that it would be a little cheaper because of the local oil production. Gas is cheaper back home. The last time I looked, the lowest price was $1.999 and we don't have any oil production in MN. I know a couple folks who work either directly or indirectly with local oil companies and they said that gas prices are so high in this area because the economy can take it.
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