Price of gas keeps falling …
Oct 28th, 2008 | By Brian Leon | Category: Home Life… and I am glad. I think it must have fallen nearly a dollar in the past month and has been plentiful for several weeks since the hurricane in the Gulf knocked out supplies for three weeks.
We can get gas now for $2.59/gallon of regular grade. At the summer peak, I was paying $3.89/gallon. In a typical month, we use 80-90/gallons for the two cars we have which works out to be a cost saving of $110-140 /month from the summer peak. That is savings I can use for other things right now.
Of course, the reason why prices have fallen so low with oil below $70/barrel now is that demand has fallen off a cliff as the world convulses under the financial crisis. As well, people are probably a bit shy of returning to their wasteful ways. I doubt SUVs will be flying off the lots anytime soon.