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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letmathe Champion Author Chicago Posts:9,236 Points:2,135,220 Joined:May 2001	Message Posted: Aug 21, 2008 11:34:22 AM Ignore letmathe Report Abuse yeap
jcross0 Champion Author Orange County Posts:2,515 Points:743,620 Joined:Apr 2006	Message Posted: Aug 21, 2008 11:28:24 AM Ignore jcross0 Report Abuse this is all just crap
qwikss Veteran Author Phoenix Posts:253 Points:82,745 Joined:May 2006	Message Posted: Aug 21, 2008 11:24:21 AM Ignore qwikss Report Abuse Barrel of oil goes up then gas rises instantly. Barrel of oil goes down then a slight decline in gas prices over the course of many weeks. We are not stupid.
drthunder Champion Author New York Posts:1,190 Points:272,855 Joined:Sep 2005	Message Posted: Aug 21, 2008 11:21:35 AM Ignore drthunder Report Abuse that good
rjb21760 Champion Author Chicago Posts:2,097 Points:668,360 Joined:Oct 2006	Message Posted: Aug 21, 2008 11:20:48 AM Ignore rjb21760 Report Abuse Still not in pace of oil's drop
simplyhelpful Rookie Author Jackson Posts:47 Points:66,285 Joined:Oct 2007	Message Posted: Aug 21, 2008 11:18:06 AM Ignore simplyhelpful Report Abuse Hey Guess what!!!! The market prices on Crude are up almost $6/barrel this morning and what's the reasoning this time???? Any Ideas??? Must be because of Fannie and Freddie!! Although they are unrelated it drives the price up wonderful!!!
TBoneSoCA All-Star Author Orange County Posts:509 Points:88,430 Joined:May 2007	Message Posted: Aug 21, 2008 11:15:02 AM Ignore TBoneSoCA Report Abuse I am sure this drop will only be temporary...
firebirdv8 Sophomore Author Ohio Posts:112 Points:600,015 Joined:Feb 2008	Message Posted: Aug 21, 2008 11:14:20 AM Ignore firebirdv8 Report Abuse down down down !!!
ramshot412 Champion Author Riverside Posts:15,258 Points:1,586,710 Joined:Apr 2004	Message Posted: Aug 21, 2008 11:14:11 AM Ignore ramshot412 Report Abuse Wait till next spring....$5.50 a gallon?
NavyEOD Champion Author Los Angeles Posts:4,283 Points:889,415 Joined:Jul 2007	Message Posted: Aug 21, 2008 11:11:29 AM Ignore NavyEOD Report Abuse But still $1 more than a year ago.
chd2008 Rookie Author Georgia Posts:42 Points:9,030 Joined:May 2008	Message Posted: Aug 21, 2008 11:10:35 AM Ignore chd2008 Report Abuse It's still not enough!
evasilion All-Star Author Virginia Beach Posts:701 Points:132,320 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:03:46 AM Ignore evasilion Report Abuse Keep declining.
Don20 Champion Author Oklahoma City Posts:3,877 Points:1,476,115 Joined:Mar 2005	Message Posted: Aug 21, 2008 11:02:58 AM Ignore Don20 Report Abuse That is good, lets keep it coming down...
Lovelee Champion Author Detroit Posts:13,592 Points:918,550 Joined:Mar 2007	Message Posted: Aug 21, 2008 11:02:07 AM Ignore Lovelee Report Abuse Keep going down for another 340 days!
bobsalwaysmt Champion Author Long Island Posts:1,991 Points:134,915 Joined:Oct 2007	Message Posted: Aug 21, 2008 11:01:14 AM Ignore bobsalwaysmt Report Abuse It needs to come down over $1.00
tz2001 Sophomore Author Virginia Posts:110 Points:235,290 Joined:Sep 2003	Message Posted: Aug 21, 2008 11:00:53 AM Ignore tz2001 Report Abuse Now that gas is "cheap" again lets have everybody jump back into their SUVs and go blasting down the highway at 90 mph so that the demand will push the price higher again!
NoodlyWee All-Star Author Orange County Posts:567 Points:94,895 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:00:48 AM Ignore NoodlyWee Report Abuse Just wait . . . after Olympics and whatever comes of the Florida Floods. Excuses #350 and 351 to raise prices again.
dabuzman Champion Author Seattle Posts:3,167 Points:864,080 Joined:Apr 2006	Message Posted: Aug 21, 2008 10:59:40 AM Ignore dabuzman Report Abuse Only hope it keeps declining at least 80 cents more.
Cyberpeep24 Champion Author Oakland Posts:1,605 Points:138,645 Joined:Apr 2008	Message Posted: Aug 21, 2008 10:59:23 AM Ignore Cyberpeep24 Report Abuse Think positive and keep conserving
Gorlock Sophomore Author Toledo Posts:212 Points:29,090 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:56:55 AM Ignore Gorlock Report Abuse The olympics will end soon.
jrobbie Sophomore Author St. Louis Posts:221 Points:100,010 Joined:Jan 2008	Message Posted: Aug 21, 2008 10:56:27 AM Ignore jrobbie Report Abuse Oil prices will be up over $120/barrel today.. so we can kiss those 34 straight days of gas declines good-bye.
NissanGirl Veteran Author Oregon Posts:308 Points:200,010 Joined:Jan 2008	Message Posted: Aug 21, 2008 10:56:16 AM Ignore NissanGirl Report Abuse I hope it keeps going down.
jerminator Rookie Author Madison Posts:71 Points:551,445 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:55:08 AM Ignore jerminator Report Abuse sure, big oil likes it. up 90 cents, down 40...... so they are still up 50 cents/gallon.
Gerund1 Champion Author Toronto Posts:1,237 Points:840,480 Joined:Apr 2003	Message Posted: Aug 21, 2008 10:54:48 AM Ignore Gerund1 Report Abuse I just wish I was close enough to the border to take advantage of the much lower US prices.
ezot92 Rookie Author Twin Cities Posts:89 Points:17,095 Joined:Apr 2008	Message Posted: Aug 21, 2008 10:54:25 AM Ignore ezot92 Report Abuse 50 cents
BM4225 Champion Author Atlanta Posts:4,596 Points:1,007,270 Joined:Aug 2006	Message Posted: Aug 21, 2008 10:53:56 AM Ignore BM4225 Report Abuse Well I need to see another 20 cent drop so I can get my anual cost to get lower.
yeehaw1073 Sophomore Author Indiana Posts:132 Points:932,840 Joined:May 2004	Message Posted: Aug 21, 2008 10:51:29 AM Ignore yeehaw1073 Report Abuse Yeah, prices may be down from the spike but how about versus prices at this time last year? I'd have to bet on higher...by somewhere in the vicinity of 60%
murdershewrote Champion Author Riverside Posts:3,778 Points:1,462,735 Joined:Mar 2005	Message Posted: Aug 21, 2008 10:50:23 AM Ignore murdershewrote Report Abuse almost 60 cents here from a month ago...but of course this is calif
kypeanuts Veteran Author Louisville Posts:342 Points:74,160 Joined:May 2008	Message Posted: Aug 21, 2008 10:48:10 AM Ignore kypeanuts Report Abuse not here
DarthDadJr Champion Author Virginia Posts:2,525 Points:500,285 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:47:56 AM Ignore DarthDadJr Report Abuse Keep conserving and it will drop again!
maindrag Champion Author Ontario Posts:1,113 Points:61,515 Joined:Dec 2005	Message Posted: Aug 21, 2008 10:47:31 AM Ignore maindrag Report Abuse how come we don't see this at the pumps?
kiddglock Champion Author Kansas Posts:6,451 Points:1,331,605 Joined:Aug 2005	Message Posted: Aug 21, 2008 10:47:09 AM Ignore kiddglock Report Abuse GO, GO, GO, GO!
TwoEyes Champion Author New Haven Posts:1,683 Points:1,578,210 Joined:May 2005	Message Posted: Aug 21, 2008 10:37:47 AM Ignore TwoEyes Report Abuse probably no decline today -- oil has spiked up $4.44 to over $119/barrel.
JewishJoe Rookie Author Pennsylvania Posts:17 Points:29,315 Joined:Sep 2005	Message Posted: Aug 21, 2008 10:36:14 AM Ignore JewishJoe Report Abuse All it's going to take is one category 2 or 3 hurricane along the eastern Texas or western Louisiana coast where all the oil rigs are. Then we'll tack on another 1 or 2 dollars per gallon. It's still not out of the question for Tropical Storm Fay to head in that general direction. If it heads west in the Gulf and strengthens, we're in trouble. I'll feel better about gas prices going down once hurricane season 2008 is over.
smokin2win07 Veteran Author Tennessee Posts:351 Points:531,045 Joined:Mar 2007	Message Posted: Aug 21, 2008 10:35:53 AM Ignore smokin2win07 Report Abuse I'm still waiting for it to drop.
Austin1850 Champion Author Austin Posts:7,083 Points:610,700 Joined:May 2008	Message Posted: Aug 21, 2008 10:35:46 AM Ignore Austin1850 Report Abuse needs to decline a dollar, that would be news.
Nofries Champion Author Atlanta Posts:1,240 Points:439,600 Joined:Jun 2006	Message Posted: Aug 21, 2008 10:35:02 AM Ignore Nofries Report Abuse 60 cent drop here.
gouging Rookie Author Illinois Posts:8 Points:251,210 Joined:Apr 2004	Message Posted: Aug 21, 2008 10:34:52 AM Ignore gouging Report Abuse NOT HERE GAS IS STILL 3.92 IN ROUND LAKE IL.THEIR GOUGING THE HELL OUT OF US IN THIS AREA.
AKTigger99645 Champion Author Anchorage Posts:5,938 Points:1,101,965 Joined:Mar 2005	Message Posted: Aug 21, 2008 10:33:50 AM Ignore AKTigger99645 Report Abuse Then they'll just add to the price because the heating season's startin
JewishJoe Rookie Author Pennsylvania Posts:17 Points:29,315 Joined:Sep 2005	Message Posted: Aug 21, 2008 10:32:52 AM Ignore JewishJoe Report Abuse . [Edited by: JewishJoe at 8/21/2008 10:35:48 AM EST]
ElCubano Champion Author Miami Posts:2,038 Points:418,575 Joined:Sep 2006	Message Posted: Aug 21, 2008 10:30:13 AM Ignore ElCubano Report Abuse always the short endof the stick!!!!
10k Champion Author North Carolina Posts:11,341 Points:1,108,100 Joined:May 2006	Message Posted: Aug 21, 2008 10:30:09 AM Ignore 10k Report Abuse we're supposed to be thrilled by a whole 40 cent drop ??? that's like a thief stealing $100 from you, then giving you $9 back for the tolls...i really really really hate big oil...
hugrad2005 Sophomore Author Arkansas Posts:134 Points:77,395 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:30:09 AM Ignore hugrad2005 Report Abuse Why the difference? Those people are so worried about losing their money that they can't drop the prices to reflect their lower cost. What's with that?
jdbgn Champion Author Los Angeles Posts:6,136 Points:1,001,710 Joined:Apr 2007	Message Posted: Aug 21, 2008 10:29:59 AM Ignore jdbgn Report Abuse Whoop te do. Still way too high.
Caspertherat Sophomore Author Arkansas Posts:155 Points:37,530 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:29:41 AM Ignore Caspertherat Report Abuse I agree with amacquarrie. But those poor speculators have to bet the spread and they need all the margin they can find.
amacquarrie All-Star Author Nevada Posts:511 Points:111,775 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:27:22 AM Ignore amacquarrie Report Abuse that makes no sense - 9% compared to 22%
Roo08 Veteran Author Grand Rapids Posts:398 Points:57,115 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:25:40 AM Ignore Roo08 Report Abuse 9% drop in price of gas is not a mirror image of 22% drop in crude. If only gas had dropped 22% many of us wouldn't be so ticked off!
gstoney Veteran Author Ontario Posts:274 Points:178,125 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:22:32 AM Ignore gstoney Report Abuse Not Here in Brantford, We are still getting Ripped Off!
Arktander Champion Author Illinois Posts:1,205 Points:781,085 Joined:Aug 2005	Message Posted: Aug 21, 2008 10:22:01 AM Ignore Arktander Report Abuse Everyone thinks it's some relief, but then they forget that it was even lower than this when it started it's run up.
AnObserver Champion Author New Jersey Posts:3,587 Points:1,269,205 Joined:Sep 2005	Message Posted: Aug 21, 2008 10:18:59 AM Ignore AnObserver Report Abuse Even more in NJ