Well, it seems that most peoples wishes have come true as gas prices drop below $3.00 this week in some areas of the US. It seems this is a month of records of all sorts. Here in Florida we are seeing prices between $2.99 and $2.71. Can't remember the last time I saw a 2 at a gas station as the first number, but according to the news on the radio this morning it was only a year ago when gas prices were under $3.00. Wow, it felt like years ago. What's even more amazing is how a barrel of gas was just around $150.00 in July (a few months ago) and is now around $80.00. My. how things change so fast these days. It is predicted that the prices we are currently are not from the current price of the barrel of oil but from the price about 2 or 3 months ago, meaning that if this trend is any indication, prices at the pump may go even lower by November as gas prices reflect the price of todays barrel of oil. That is pretty amazing to me.
The sad part is that the only reason gas is so low is due to the market problems leading people to believe that with the economy and the markets doing so bad that demand for gas will go down, therefor making that price of barrel go down. So chances are, as it seems already today, once the market starts getting back on it's feet, and starts to rebound (which seems likely this week) so will the prices of barrel of gas which means we may as well enjoy these cheap prices while it last. Talk about "you give it with one hand, and take it with the other".Article