Gas Mileage and Gas Prices » lundberg survey http://www.fueleconomyhelp.com How to Increase Gas Mileage and Beat Gas Prices Wed, 07 Sep 2011 14:36:28 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Gas Prices below $2; The End is Near http://www.fueleconomyhelp.com/2008/11/gas-prices-below-2-the-end-is-near/ http://www.fueleconomyhelp.com/2008/11/gas-prices-below-2-the-end-is-near/#comments Mon, 24 Nov 2008 11:46:13 +0000 Fuel Economy Advisor http://www.fueleconomyhelp.com/?p=178 CNN reported yesterday that the end of the gas price drop is probably near, citing the Lundberg Survey as the source.  The average price of gas dropped over 30 cents in the past 2 weeks, dropping below $2 for the first time in almost 3 years.

“The average price of self-serve, unleaded gasoline on Friday in the United States was $1.97,” said Trilby Lundberg, publisher of the Lundberg Survey. “The last time the price was below $2 was on March 4, 2005,” she said.

This is attributed mostly to the drop in crude oil prices.  Last summer, when gas prices were over $4 for most areas of the country, crude oil had risen to over $100 per barrel.  Friday oil futures dropped to just under $50, marking the lowest point in the dramatic drop in the past 4 months.  Of course, the decreased demand for gas, in part due to joblessness and the poor economy, also contribute to the falling prices.

This is all good news, except for the fact that the price drop is probably coming to an end, as the oil market is settling down.  Don’t get too excited about seeing gas drop below $1 gallon next month, it probably won’t happen.

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