Gas prices finally drop -- a tiny bit
Prices rose every day for the previous 27 days, and they're likely to start climbing again.
This is one streak we're glad to see come to an end: After 27 days of going nowhere but up, gas prices have dropped by an itsy-bitsy 0.3 of a cent.
The national average price for regular gas is now $3.764, according to AAA. The average a month ago was $3.478. A year ago it was $3.509.
Here's where you'll find the highest average gas prices around the United States. We've included diesel for a quick comparison:
One day does not a trend make, and the experts say we can expect to see gas prices march upward into unprecedented territory. The Associated Press says, "The Oil Price Information Service predicts the nationwide average could peak at $4.25 per gallon in late April, beating the record high of $4.11 per gallon set in July 2008." (Post continues below.)
Today's slight decline wasn't universal. California's average went up 0.3 of a cent, to $4.346 a gallon, the Los Angeles Times said.
And there's not even a whiff of good news for owners of diesel pickups. The price of diesel went up 0.1 of a cent, to a national average of $4.084.
There are, however, states where the average price of gasoline isn't yet close to the $4 mark. The states with the lowest gas prices, according to AAA:
Motorists have responded to the rising price of gas by driving less. Gas consumption last week was 6.3% lower than it was a year ago, according to MasterCard SpendingPulse.
Why are gas prices heading to the stratosphere? The L.A. Times summed it up well:
The reasons for the high fuel costs are many and too numerous to mention in every article. They include the high price of oil, which accounts for 80% of the cost of gasoline. Refinery shutdowns have also affected fuel supplies, as have a record number of U.S. exports of fuel distillates such as diesel.
Investment speculators, hedge funds and other are also driving up the price of commodities futures with billions of dollars in long-term bets that the cost of gasoline and oil will continue to rise.
More on MSN Money:
When you came into office gas prices were $2.60 a gallon and you managed to bubble that in 3 years! Hope and Change hard at work for the American people!
Stop speculation on the oil market and things will calm down. But then Goldman sachs would not make as much money. Sorry to say all this is part of the grand scheme to take most of what you have and leave US broken.
We have no shortage and demand in the US has dropped due to more nigher mileage cars being sold. So are the oil companies letting out just enough to match demand and keep the price up here? THe law of supply and demand no longer applies. Gas should be way down but its not going down, maybe all the cutting back and buying high mileage cars aren't really doing anything but giving Haji, Apoo or Takimoto more gas from the USA. All the while the oil companies get tax payer subsidies. Sounds pretty $hitty to me and people need to be looking at the oil companies.
gas prices increase by .50cents a gallon and when they decrease by .20cents after the increase a gallon we figure ahh we got a bargain now. how easy we are manipulated by the government.where are the smart people of this country? how long do the people of the united states allow this to happen. we are now producing oil in our own country but selling it to other counties for a profit. why sell it for $4.00dollars a gallon when you you can sell it for $9.00a gallon elsewhere and deprive the american people of their own product. just because the people in washington screwded our economy from the get."unbelieveable". wake up america." a true patriot".
But don't take my word for it....do your own homework and do your own search.
Now he blames the prices on the problems in the Middle East. Thank God he's got you idiots, who hang onto and believe his every word.
So.....Obama lovers.....how does that help me when I go fill up my Jeep Liberty in the morning?
I wonder where they are getting there info? IL is $3.99 at the cheapest place, way over 4 bucks in the city!!!
Number one does anyone ask the question who are these experts and who are AAA to be the mediator of regulation amonst the spectulator (I.E. The Investors).
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