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Gas price decline nears 40 cents

CNN Money -- NEW YORK (CNNMoney.com) -- Gasoline prices have fallen nearly 40 cents a gallon from their record highs after 34 straight days of declines, according to a daily survey released Wednesday.

The price of regular gasoline fell to $3.717 a gallon from $3.73 a day earlier, according to a survey of gas station credit card swipes from motorist group AAA and the Oil Price Information Service.

Gas prices have fallen more than 9% since hitting a high of $4.114 a gallon on July 16. The drop mirrors a 22% decline in crude price futures from their record high of $147.27 a barrel.

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Submitted Aug 20, 2008 By: JT

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danielle6181 All-Star Author Houston Posts:754 Points:403,890 Joined:Aug 2005	Message Posted: Aug 21, 2008 8:35:28 AM Ignore danielle6181 Report Abuse Keep dropping.
mhewer All-Star Author Detroit Posts:591 Points:303,500 Joined:Sep 2007	Message Posted: Aug 21, 2008 8:33:51 AM Ignore mhewer Report Abuse If crude dropped 22%, why has gas only dropped 9%????
Zinnoil Champion Author Florida Posts:18,901 Points:2,139,725 Joined:May 2004	Message Posted: Aug 21, 2008 8:33:32 AM Ignore Zinnoil Report Abuse Certainly hasn't dropped nearly 40 cents a gallon around here.
lindamay Champion Author Minnesota Posts:1,849 Points:409,335 Joined:Feb 2008	Message Posted: Aug 21, 2008 8:33:20 AM Ignore lindamay Report Abuse good. Keep dropping.
docwilly All-Star Author Scranton Posts:558 Points:106,415 Joined:Feb 2008	Message Posted: Aug 21, 2008 8:31:47 AM Ignore docwilly Report Abuse needs to come down more
CoronaKid Champion Author Riverside Posts:8,709 Points:1,554,750 Joined:Mar 2005	Message Posted: Aug 21, 2008 8:30:55 AM Ignore CoronaKid Report Abuse Wake up Wildman14, you are in a dream land.
CoronaKid Champion Author Riverside Posts:8,709 Points:1,554,750 Joined:Mar 2005	Message Posted: Aug 21, 2008 8:30:26 AM Ignore CoronaKid Report Abuse So instead of it costing $50 to fill up my tank, now it cost $45. Yippee.
Wildman14 Champion Author Virginia Posts:1,494 Points:416,025 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:29:36 AM Ignore Wildman14 Report Abuse A grassroots call to nationalize the oil industry might get their attention!
CoronaKid Champion Author Riverside Posts:8,709 Points:1,554,750 Joined:Mar 2005	Message Posted: Aug 21, 2008 8:29:25 AM Ignore CoronaKid Report Abuse Yeah, after going up $2.50. Oh joy.
vandad03 Sophomore Author Syracuse Posts:131 Points:684,575 Joined:Apr 2007	Message Posted: Aug 21, 2008 8:29:15 AM Ignore vandad03 Report Abuse It should be down at least 75 cents by now, not just 40 cents. Wonder who in the chain is making all of that profit.
tonycmd All-Star Author Maryland Posts:515 Points:129,830 Joined:Jun 2008	Message Posted: Aug 21, 2008 8:28:14 AM Ignore tonycmd Report Abuse Keep dropping
ROCKERDUDE Veteran Author Detroit Posts:304 Points:1,038,390 Joined:Aug 2004	Message Posted: Aug 21, 2008 8:27:57 AM Ignore ROCKERDUDE Report Abuse Time for some new news!!!
texasbig8 Champion Author Dallas Posts:1,799 Points:391,440 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:27:33 AM Ignore texasbig8 Report Abuse Just more manipulation by the big oil companies and those reaping the profits...
Jizme Champion Author Lincoln Posts:4,903 Points:1,926,140 Joined:Oct 2004	Message Posted: Aug 21, 2008 8:27:11 AM Ignore Jizme Report Abuse I just hope that it will continue to drop
Mortarpsg Sophomore Author Charlotte Posts:220 Points:296,830 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:26:55 AM Ignore Mortarpsg Report Abuse As soon as the gov't finally said they were gonna investigate speculators, the $ started falling....WONDER WHY??? maybe all those "Drill here, Drill now" nuts will see it's more than supply and demand. The futures mkt was more to blame and has been for years.
NECarter Veteran Author Seattle Posts:342 Points:192,665 Joined:Oct 2006	Message Posted: Aug 21, 2008 8:25:19 AM Ignore NECarter Report Abuse I's not coming down because oil is!! It's coming down bcause the oil companies continue to styme Congress and continue to manipulate us and laugh at them cause they can't figure out how and how to stop their coniving cheating ways!!!!
EyeGasses Champion Author Nevada Posts:3,072 Points:544,870 Joined:Jun 2006	Message Posted: Aug 21, 2008 8:22:52 AM Ignore EyeGasses Report Abuse Not enough, yet. Maybe just a little relief before they stick it to us, again.
smwhite Champion Author Indiana Posts:4,807 Points:1,089,490 Joined:Jun 2007	Message Posted: Aug 21, 2008 8:22:46 AM Ignore smwhite Report Abuse I agree, racerdj.
cv Champion Author Raleigh Posts:10,229 Points:2,285,180 Joined:Oct 2003	Message Posted: Aug 21, 2008 8:22:32 AM Ignore cv Report Abuse Slowly but slowly it drops.
racerdj Champion Author Indianapolis Posts:4,890 Points:1,076,060 Joined:Jun 2003	Message Posted: Aug 21, 2008 8:21:48 AM Ignore racerdj Report Abuse Let's see, oil's down 22% and pump prices are down only 9%....We're still taking it in the wallet.
JPGKC Champion Author Tampa Posts:4,419 Points:821,825 Joined:Sep 2006	Message Posted: Aug 21, 2008 8:21:37 AM Ignore JPGKC Report Abuse Well they are trying to push it up again for NO reason.
gatorfan502 Champion Author Louisville Posts:4,531 Points:683,495 Joined:Aug 2008	Message Posted: Aug 21, 2008 8:21:13 AM Ignore gatorfan502 Report Abuse let's enjoy the ride for now!!
bh1995 Champion Author Detroit Posts:1,200 Points:1,306,375 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:21:05 AM Ignore bh1995 Report Abuse Way to go.
Litt211 Veteran Author St. Louis Posts:276 Points:988,000 Joined:Nov 2005	Message Posted: Aug 21, 2008 8:20:07 AM Ignore Litt211 Report Abuse I'd like to see it drop another 40
plumb37 Champion Author Quebec Posts:3,256 Points:201,715 Joined:Jun 2008	Message Posted: Aug 21, 2008 8:18:12 AM Ignore plumb37 Report Abuse With winter coming, consumption will go up. People will not walk or bike as much.
swepson All-Star Author Greensboro Posts:543 Points:599,830 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:17:45 AM Ignore swepson Report Abuse With very low gasoline inventories, we’re one refinery accident away from another huge price run up.
gas_too_high Champion Author Columbus Posts:4,343 Points:989,425 Joined:Aug 2005	Message Posted: Aug 21, 2008 8:17:11 AM Ignore gas_too_high Report Abuse Not far enough. I'll smile when it stays below $3.50 and cheer when it gets below $3.00.
GolfTDI03 Champion Author Richmond Posts:2,435 Points:581,205 Joined:Jul 2005	Message Posted: Aug 21, 2008 8:17:11 AM Ignore GolfTDI03 Report Abuse heading higher again today.
GotAKidNCollege Sophomore Author Virginia Posts:101 Points:87,020 Joined:Apr 2008	Message Posted: Aug 21, 2008 8:15:11 AM Ignore GotAKidNCollege Report Abuse Keep it going down!
dougrusty All-Star Author Illinois Posts:711 Points:313,275 Joined:Mar 2008	Message Posted: Aug 21, 2008 8:14:33 AM Ignore dougrusty Report Abuse Not enough yet.
SE3.5 Champion Author Indianapolis Posts:11,231 Points:2,183,200 Joined:May 2004	Message Posted: Aug 21, 2008 8:13:00 AM Ignore SE3.5 Report Abuse Hooray! Keep it going.
firemanjones Champion Author Miami Posts:1,293 Points:142,270 Joined:Aug 2008	Message Posted: Aug 21, 2008 8:11:36 AM Ignore firemanjones Report Abuse It is amazing- the price here in Jupiter has an average of $3.85. When I travel south it drops 20 cents. It seems the higher the price they are close or there is a very small difference. But when the price of crude drops places like Jupiter and Boca remain high.
s3martin Champion Author Des Moines Posts:1,683 Points:520,330 Joined:May 2008	Message Posted: Aug 21, 2008 8:11:18 AM Ignore s3martin Report Abuse lets keep the decline a coming !!!!!
bradkos Rookie Author Ohio Posts:94 Points:35,160 Joined:May 2008	Message Posted: Aug 21, 2008 8:10:44 AM Ignore bradkos Report Abuse For what oil is per barrel the gas prices should be under $3
MNTraveler Sophomore Author Minnesota Posts:210 Points:78,360 Joined:Jul 2008	Message Posted: Aug 21, 2008 8:10:18 AM Ignore MNTraveler Report Abuse Keep dropping
Petesgas Rookie Author Madison Posts:35 Points:3,100 Joined:Aug 2008	Message Posted: Aug 21, 2008 8:08:50 AM Ignore Petesgas Report Abuse Let say wow when it hits 2.00 and not 3.73! Still too expensive!
bar1035 Champion Author North Carolina Posts:2,403 Points:458,405 Joined:Aug 2006	Message Posted: Aug 21, 2008 8:06:57 AM Ignore bar1035 Report Abuse If we can continue to conserve maybe can get it lower. Go back to old habits and it will be going back up. I'll continue to ride the bus to work to help out
salog Champion Author Columbia Posts:3,515 Points:876,005 Joined:Oct 2006	Message Posted: Aug 21, 2008 8:05:25 AM Ignore salog Report Abuse still higher than what they should be.
ponymom Champion Author Cincinnati Posts:1,702 Points:332,340 Joined:May 2008	Message Posted: Aug 21, 2008 8:04:47 AM Ignore ponymom Report Abuse Below $3.50 in SW Ohio
Rick01 Champion Author Utah Posts:4,005 Points:1,408,665 Joined:Sep 2005	Message Posted: Aug 21, 2008 8:04:02 AM Ignore Rick01 Report Abuse I'd love to see it under $3, but winter is coming.
hvanman Rookie Author Indianapolis Posts:30 Points:113,375 Joined:May 2007	Message Posted: Aug 21, 2008 8:01:26 AM Ignore hvanman Report Abuse We will see when winter starts and Christmas is near.
bug27 Champion Author Kentucky Posts:21,338 Points:1,813,695 Joined:Apr 2005	Message Posted: Aug 21, 2008 8:00:15 AM Ignore bug27 Report Abuse $3.499 here.
BeaverBilly Champion Author Alberta Posts:4,960 Points:1,571,735 Joined:Feb 2003	Message Posted: Aug 21, 2008 7:59:28 AM Ignore BeaverBilly Report Abuse It has a long way to go yet. But winter is coming.
tazdriver Champion Author Huntsville Posts:4,892 Points:1,177,500 Joined:Jan 2007	Message Posted: Aug 21, 2008 7:57:47 AM Ignore tazdriver Report Abuse Boring is stating the obvious.
TeachR06 Champion Author Raleigh Posts:3,535 Points:1,012,760 Joined:Sep 2006	Message Posted: Aug 21, 2008 7:57:01 AM Ignore TeachR06 Report Abuse Hope it keeps moving down for the near future. With inflation up, it's something to look forward to.
mahenv7 Champion Author Toronto Posts:1,950 Points:391,475 Joined:Oct 2004	Message Posted: Aug 21, 2008 7:56:38 AM Ignore mahenv7 Report Abuse Short term... prices at the pumps is in the opposite direction....
Almightys Veteran Author Detroit Posts:267 Points:133,415 Joined:May 2008	Message Posted: Aug 21, 2008 7:56:27 AM Ignore Almightys Report Abuse under $3 would be nice
Helms Champion Author Fort Worth Posts:4,229 Points:1,222,775 Joined:Jun 2005	Message Posted: Aug 21, 2008 7:55:36 AM Ignore Helms Report Abuse very temporary.......soon $4.50 to $5
echolalia Sophomore Author Pennsylvania Posts:245 Points:92,115 Joined:Jul 2008	Message Posted: Aug 21, 2008 7:54:45 AM Ignore echolalia Report Abuse I'm concerned that Palmtrees13 is right and the drop in prices is a temporary thing. The lowest price in my city was $3.43 a few days ago; now they've climbed up, hovering around $3.48. Five cents worries me? You bet your bippy! However, if we all continue to conserve, and I mean really conserve -- don't let falling prices lull you into old patterns of gas consumption! -- perhaps we can actually keep costs declining, even if said decline happens slowly.
domer2 Champion Author Gary Posts:1,487 Points:500,925 Joined:May 2007	Message Posted: Aug 21, 2008 7:54:10 AM Ignore domer2 Report Abuse still way way way too high
Raider44 All-Star Author Allentown Posts:975 Points:723,140 Joined:Apr 2008	Message Posted: Aug 21, 2008 7:52:52 AM Ignore Raider44 Report Abuse Don't get too comfortable. I don't believe prices will drop too much farther, maybe bottoming at around $3.50. If OPEC cuts production, or any other geopolitical or climatic events occurs, prices will be up and above where the started.