Gas Prices Tumble Again; Gas is Cheap again!

Gas prices are falling all over the country.  Here is just a sample of some of today’s headlines from different states:

• Drivers pleasantly surprised by $1.99 gas prices from Illinois
• Gas prices take another big drop from Los Angeles
• Hawaii gas prices nearing a year ago’s levels – from Hawaii
• Gas prices hit 2008 low in state from Colorado
• Gas Prices Drop Rapidly Around Greene County from Tennessee

Gas prices are dropping everywhere across the country, and it’s all due to the dropping price on oil due to recession fears.  The AP reports oil is down to $60/barrel, and they are attributing this to the decrease in demand for energy.  This seems to be a predictable side effect of a slowing economy.

Unemployment is up and retail sales are down, and these factors definitely impact the price of oil.  As oil prices come down, expect gas prices to continue to drop - some expect them under $2/gallon by the end of 2008.

Related Articles:

• Driving to Thanksgiving Dinner is Different This Year
• Gas Prices Below $3 and Falling
• Top Ten Ways to Save Money, Conserve Fuel and Beat Gas Prices
• The Cheapest Gas Prices in Your Area