When this whole deal started on 9/11 some people feared that gas prices would sky rocket. It didn't happen. Instead since then gas prices have dropped. Yesterday it was $1.04 a gallon at the beginning of the day, by the evening the same day it was $1.02.
I'm curious if the drops are nation-wide, or if OPEC finally produced more gas.
Posted by Tahna Los (Member # 33) on :
The main reason of the drop in gas prices is the drop in the travel industry. Jets use a lot of fuel, and most airlines have been lurking in the danger zone. It's not the lack of gas that is the problem, it's the lack of demand for gas. Which is good.
Posted by First of Two (Member # 16) on :
Gas is between 1.13 and 1.09 hereabouts, down from around 1.43 just before the attacks.
Tahna has it right... with much fewer flights, there's much less gas consumption, (hence a bigger overall supply,) so prices drop.
+Supply -> -Prices. (Californians take note)
Also, until now, fall's been pretty mild, so less heating.
Posted by CaptainMike (Member # 709) on :
So illogical these humans.. depending on what the war does to the middles east we may not have long to enjoy the low prices
Posted by The359 (Member # 37) on :
Chicago has been notorious for having the highest gas prices in the nation, and right here (about 50 miles outside Chicago) it's been hovering around $1.10
Posted by CaptainMike (Member # 709) on :
*grumble* it was chillin around $1.50 pre 9/11, now its about $1.35.. here in Rhode Island
Posted by First of Two (Member # 16) on :
Guy 'in the industry' told my dad to expect it to drop below $1 a gallon by Thanksgiving.
Posted by Da_bang80 (Member # 528) on :
So illogical these humans.. depending on what the war does to the middles east we may not have long to enjoy the low prices