These past few weeks the news has been for the most part, doom-and-gloom. However, there a bit of good news out there if you look for it; and that being, gas prices are dropping. In fact The Detroit News is reporting that there are some Michigan stations now reporting gas under (barely) $3.00 a gallon.
The prices have dropped for a couple of reasons: the price of crude oil and demand for gas in Michigan are down so states John Griffin, executive director of the Associated Petroleum Industries of Michigan.
"In fact, it's expected that it will decline by another 5 percent," he said. "Refineries back online is also good news for consumers. But who would have expected prices to have fallen this fast -- a dollar a month?"
ateixeira says:
09:53 AM, 10/ 9/08
We're still only at the same price levels for 2007. Remember - demand is seasonal, they will climb again as Memorial Day 2009 approaches. We'll see gas back up at $4 in no time.
Of course, so many people have short term memory loss that SUVs (for people that don't really need them) will bounce back, watch.
kurtamaxxxguy says:
09:58 AM, 10/ 9/08
Yup, once credit comes back, and if gas stays down a while, the trucks and SUV's will most likely fly off the dealer lots again.
m_thrizzle says:
01:01 PM, 10/ 9/08
I know gas prices will keep dropping for a few months so I have only been filling up my tank about 1/2 way lately. It's not saving too much money but every bit helps nowadays it seems.
Yup, I agree w/ the above statements about trucks.
estreka says:
01:41 PM, 10/ 9/08
Having a fuel efficient car has kept me out of the gas chaos. Still, it has been interesting to watch, much like I imagine it must be for people watching the DOW plummet every single day.
billt9 says:
03:31 PM, 10/ 9/08
Once again the Chevy Suburban and the Ford Expedition will be America's number one family wagon.
hondacura4 says:
07:17 PM, 10/ 9/08
Unleaded gas here in central Ky averages about $3.09 for regular unleaded.
"Yup, once credit comes back, and if gas stays down a while, the trucks and SUV's will most likely fly off the dealer lots again."
"Once again the Chevy Suburban and the Ford Expedition will be America's number one family wagon."
I wouldnt go that far as $3.00 a gallon still isnt what I consider cheap. I think gas prices made people finally realize that there is a difference between being able to afford to purchase a large truck/SUV and being able to own a large truck/SUV, big difference! Sometimes reality has to slap you in the face.
mikemir87 says:
09:20 PM, 10/ 9/08
Here in Warren, RI cheapest gas is $2.89 for regular, about time its under $3 again!!
dbt says:
10:31 AM, 10/10/08
Gas here in Minnesota is also now as low as $2.89.
I know it wouldn't be popular, but now is a time we could put a floor on gas prices of say $4 per gallon (adjusting the tax collected as necessary). While it's not what people want, it is not far from what they had to deal with recently. And it will do a lot of what is needed in terms of conservation, incentives for alternative energy, reduction in dependence on foreign oil, ...
estreka says:
02:18 PM, 10/10/08
We're still at $3.30 up here in Montana.