Wednesday, October 29, 2008

Gas Prices Hit Three-Year Low

For 42 days gas prices have fallen, according to a nationwide survey of credit card swipes at gasoline stations. This is a 37 percent decline from the highest price, $4.114, set on July 17th. Today the average cost of a gallon of gas is $2.589 a gallon.

Despite the lower prices, gas consumption is down, which may have to do with the economy and lack of consumer confidence. Compared to last year, Americans are driving 5.6 percent less, said the U.S. Department of Energy.

So not only is gas cheaper, but people are consuming less. This is win-win news for Wednesday.

Originally reported by CNNMoney.

3 comments:

Ashley said...

Where I live gas has been $2.01 for 2 days already, I'm just ready for it to get under the $2 mark!

Sabrina said...

great to see gas prices lower but let's keep on driving less like we did when it was $4 and over

captain thunder said...

I love it!!
I saw $2.17 today. It is a little unusual to see such a low price :)