It was the cheapest gas fill up I've had in a long time. In fact, when the handle clicked, I looked at the price on the pump and it didn't look right so I squeezed the handle again. Needless to say, it was already full. No complaints here. It just keeps going lower and lower.
Experts say the drop in gas prices is partially due to the decreased demand on gas. But is the demand on gas really dropping that fast and by that much? That does not appear to be the case to me. People are still driving. Have you cut back significantly on your day to day driving?
For me, I've changed the way I'm driving in order to boost my mileage a little, that's all. I've still got to run the kids around and go to/from work each day. Nevertheless, the US Dept of Energy says that Americans overall are driving 5.6% less miles today than last year.
What are your thoughts? I'd like to know. -Tito
I believe it is a combination of less demand and lower oil prices. People are cutting back in all phases of their lives with this economy and any travel that is not necessary, is being eliminated to save money. I have been giving more thought to combining errands to cut down on travel to and from shopping, the post office, etc. My guess is there is a lot of that going on.
ReplyDeleteYes the issue does appear to be a bit more complicated and globally widespread even though we in the US apparently consume 25% of the world's crude oil.
ReplyDeleteIt's the rate of decrease that has me a little puzzled. Oil prices though, have been falling at a similar rate. Back in July, crude peaked at about $147 a barrel, which is approximately 55% higher than today's price. Balance that with supply of gas in the US which has been on the rise as reserves are replentished and refineries come back into production. Then there's all of the speculation that the demand will drop due to the global economic crisis.
Bla bla bla...who can really predict what will happen tomorrow. I guess all we can do is sit back and take advantage of the low prices while it lasts because it's bound to start climbing at some point. I feel like I should go fill up the RV when it drops...but it's already full.
Well said T!
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