Gasoline Prices Drop

This is some good news. I realize that many are still suffering and, as regards gasoline prices, we still have to deal with the fall-out from Hurricane Rita - but it is good to note some good news when it comes our way.

People can say what they want about this country - and we certainly have a long way to go to dig out from these two current large tragedies - but America's ability to bounce back and move on, driven by a tremendous economic machine, is without compare.

CAMARILLO, Calif. (AP) - Retail gas prices dropped an average 20 cents in the past two weeks because of decreased demand and a comeback by Gulf Coast refineries that were hurt by Hurricane Katrina, according to a nationwide survey released Sunday.

The weighted average price for all three grades declined to $2.84 a gallon for the two weeks ending Sept. 23, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.

Update: More good news.

Signs that Gulf Coast energy producers survived Hurricane Rita largely unscathed sent oil futures falling on Sunday, but analysts said consumers were likely to face tight supplies and higher prices while refineries shut by the storm come back on line.

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Comments

[Isabell]

Stupid gas prices. I am so sick of people complaining about gas prices. It really is not that significant. Just don't buy that $10.00 whatever it is that you waste your money on each week and there will be nothing lost in the way of money.

[Isabell]

Well, unless you drive a semi or fly a plane that is.

[Aunt Em]

Does anyone else think this kind of sucks. Before the hurricanes we were complaining about $2.89, now if and when it comes back down to that we are supposed to be grateful?

[Aunt Em]

Or until it hits every price in the nation because of gasoline surcharges Isabell.

Have you booked a flight lately?

[Aunt Em]

And Dan, have you seen a drop in your neck of the woods of NJ? Still at $2.97 where I am at.

[Thealamo]

Does anyone else think this kind of sucks. Before the hurricanes we were complaining about $2.89, now if and when it comes back down to that we are supposed to be grateful?

Posted by: Aunt Em | Sep 25, 2005 7:16:18 PM

My neighbor works for one of the large oil companies. Seems like every month he comes over smiling because he got another raise. He loves the price we are paying.

I hear from these corporate moguls about how nice it is to give to the hurricane victims. Wonder why the oil companies don't chip in and lower prices during a crises?

It is funny, we always hear about how our government is "protecting" us from businesses that take advantage of the consumer and gouge them, but it seems they always miss the mark when the "big boys" do the gouging.

Wonder why? Campaign contributions?....nah...all of our government officials are almost gods, so they wouldn't do a thing like that.

[Aunt Em]

Makes me kind of ill. Never heard of any kind of shortage around here and at one point it was at $3.50.

[Dan]

And Dan, have you seen a drop in your neck of the woods of NJ? Still at $2.97 where I am at.

Not yet Aunt Em - hard to find it under $3.

[Aunt Em]

Sucks, we used to be the lowest in the nation, full serve and all lol.

[jolari]

The domino effect is what scares me. The transportation that is used to bring any product to us as consumers is going to be facing this shortage & possible price increase that may come along. We will be paying more for anything that we purchase including food, utilites etc.