Gas prices dropping sharply
They recently saw their biggest weekly drop since 2008, according to AAA.
The national average for a gallon of gas was $3.63 Wednesday, down 2 cents from the day before and 10 cents from a week earlier.
The more impressive drop came on Monday, when the price had fallen 12 cents in a week to $3.67. That was the biggest weekly drop since 2008, according to AAA's daily fuel gauge report.
President Barack Obama may find reason to celebrate. AAA thinks the average price per gallon will fall to between $3.40 and $3.50 when voters head to the polls on Nov. 6. By Thanksgiving, prices could fall even more, to between $3.25 and $3.40.
Is Obama pulling the strings behind the price drop? Probably not the Los Angeles Times writes. Crude oil is a global commodity, and the markets have much more influence on the price than the commander in chief. "Indeed, there seem to be very few tools in the presidential woodshed that can hammer down gas prices with any predictability or long-lasting effect," Ken Bensinger writes. "But presidents are almost always put on a very public hook when gas prices are judged to be high."
So what's the reason for the price drop? Falling oil prices and more supply as refineries are coming back online. In addition, refiners are using cheaper winter blends, according to The Associated Press. And people are starting to drive less this time of year.
Still, the AP notes, gas remains very expensive, more so than it's ever been at this time of year. Last year, for example, gas was $3.46 per gallon at the same time.
And though we all may breathe a little easier at the pump, the falling price of gas is still alarming because it reflects broad concerns about the state of the world's economy.
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You mean we dont have to go into Mexico to buy Gas anymore?
This has been going on since I was a Kid Gas dropping right before election time.. If you think the President doesnt have some kind of influence on this, I have some money trees to sell you.
When in Tulsa on 10/20/12, noticed that gas prices for regular in most stations was 3.09 and some were lower and some higher. Seems that most of the county is getting ripped off..
...and right after the election they will be right back where they were last week if Obama get's re-elected. Gas prices will never go down to what they were when he took office. He has pretty much said that energy prices will be going up. He wants them to go up. He didn't approve the entire Keystone pipeline, coal plants are being regulated out of business. He has said these things out loud! When will people start believing him? He does NOT have Americans best interest at heart. We need to show him exactly what we think of him in 2 weeks by voting him out! Besides who wants a president when Hugo Chavez, Fidel Castro and Putin of Russia are backing him. Doesn't that tell you everything you need to know?
Wow, that big of a drop? Whew, thanks for warning us, otherwise no one would have noticed. I guess no one was selling lemonaid today and this story made it to the headlines.
Are you people at MSN kidding me? in the begining of 2009 and late in 2008 the national price of gas was $1.84 per gallon.
Tell the real story of why a 100% jump in gasoline price is reasonable when refining costs stayed the same and the inflation adjusted price of oil is less now in 2012 than late 2008 early 2009.
Secondly, both Obama and Romney are essentially saying that if their plan improves the economy rising gas prices will consume most gains realized by workers.
Who thinks either of these clowns has the resume to represent us in national and global politics?
Suddenly feeling ripped-off by capitalism?
For-profit American gasoline kills our birth rates by making everything expensive.
Google, America's current record low birthrates.
Koch Oil and other oil monopolies are killing us by making our lives unaffordable.
Record low birth rates are the proof.
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