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      08-10-2008, 11:10 AM   #1
e90im
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Drives: f30
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So, gas prices are down 10%

Election driven? No, of course not (insert sarcasm)...

Here's an interesting little fact:

Mid-2006 increase


July 2006

Regular gasoline prices were averaging USD3.036 per U.S. gallon across the U.S. in August, 2006, slightly below the post-Katrina peak of USD 3.057. Adjusted for inflation, these U.S. prices were the highest in 25 years. The all-time U.S. inflation-adjusted record is approximately $3.20 per U.S. gallon, set in March 1981


September 2006 decreases (just before 06 election)

Oil prices began to decrease during September 2006, closing below $66/barrel on September 11. The U.S. national average gas price dropped to $2.70/gallon in early September, down 0.11 from the previous week. Some cities were seeing average prices below US$2.40/gallon.

In September, prices continued to fall, and the average cost of gasoline per gallon (U.S. nationwide) was below US$2.50. On September 19, crude oil fell $2.14 to a 6 month low of $61.66. October 3, the price closed at $58.68, its lowest close since mid-February.

On October 11, oil prices fell below $58 for the first time since February. Days later, on October 20, a barrel of crude oil closed at $56.82 per barrel.

Mid-2007 increases (after election)

The U.S. national average on May 16, 2007 was $3.09, and some parts of the West Coast were selling regular unleaded at $3.33/gallon (e.g. San Francisco and Los Angeles).

So, folks, no matter who wins in November, grab your ankles in 09.
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Last edited by e90im; 08-10-2008 at 04:40 PM.