So, gas prices are down 10%
Election driven? No, of course not (insert sarcasm)...
Here's an interesting little fact:
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.
///f80 AW/SO 6MT | f30 | e92 | tt | S5 | e92 | 350z | e90 |
Last edited by f80; 08-10-2008 at 05:40 PM.