Today we saw a significant drop in the price of light sweet crude, but what can we expect at the pump? Crude has shed about $60 or 40 percent of its value since soaring to a record $147.27 on July 11.* The U.S. national average for a gallon of gas was approximately $4.08.*
Based on the 40% drop today and what the price at the pump was in July 2008, we should now be paying… wait for it…. $2.45 per gallon!
We are actually paying approximately $3.40 per gallon. CORRUPTION!!!
Sources:
GasBuddy.com*
The Huffington Post**
I guess, would we expect anything different? What is also interesting is that this isn’t being addressed by the media. Such a drop in cost could have a positive effect on the economy, which maybe, politically, is not something someone wants to have right now….
Simple, accurate website to see average gas prices by state. When you click on a state you can also see specific metro areas:
http://www.fuelgaugereport.com/sbsavg.asp