GasBuddy News Article

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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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greytdino Veteran Author Indiana Posts:491 Points:102,635 Joined:Sep 2005	Message Posted: Aug 21, 2008 8:35:58 AM Ignore greytdino Report Abuse Woo hoo!
danielle6181 All-Star Author Houston Posts:754 Points:403,065 Joined:Aug 2005	Message Posted: Aug 21, 2008 8:35:28 AM Ignore danielle6181 Report Abuse Keep dropping.
mhewer All-Star Author Detroit Posts:590 Points:243,430 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:16,693 Points:1,876,640 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:408,685 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:554 Points:104,335 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:8,220 Points:1,455,675 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:8,220 Points:1,455,675 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:1,165 Points:271,135 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:8,220 Points:1,455,675 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:121 Points:541,650 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:291 Points:884,330 Joined:Aug 2004	Message Posted: Aug 21, 2008 8:27:57 AM Ignore ROCKERDUDE Report Abuse Time for some new news!!!
texasbig8 All-Star Author Dallas Posts:910 Points:219,290 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:3,476 Points:1,646,265 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:296,430 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:337 Points:173,415 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:2,657 Points:459,920 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:3,428 Points:816,025 Joined:Jun 2007	Message Posted: Aug 21, 2008 8:22:46 AM Ignore smwhite Report Abuse I agree, racerdj.
cv Champion Author Raleigh Posts:8,797 Points:2,003,605 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:3,460 Points:793,110 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:820,500 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:3,116 Points:423,515 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:1,060,525 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:268 Points:829,590 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 Veteran Author Greensboro Posts:363 Points:396,880 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:2,534 Points:716,425 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:578,305 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:684 Points:260,785 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:9,770 Points:1,900,250 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:1,292 Points:142,000 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 All-Star Author Des Moines Posts:608 Points:323,210 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:74,235 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:1,351 Points:290,225 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:2,172 Points:665,960 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:2,559 Points:1,132,335 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:11,824 Points:1,529,770 Joined:Apr 2005	Message Posted: Aug 21, 2008 8:00:15 AM Ignore bug27 Report Abuse $3.499 here.
brutus Champion Author Alberta Posts:3,529 Points:1,289,840 Joined:Feb 2003	Message Posted: Aug 21, 2008 7:59:28 AM Ignore brutus Report Abuse It has a long way to go yet. But winter is coming.
tazdriver Champion Author Huntsville Posts:4,120 Points:929,430 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:2,663 Points:812,695 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:128,090 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:3,012 Points:963,255 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