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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Demand nationalization and we will have much cheapergasoline when we remove the corrupt profit motive from our oil and gas.
Nationalized gasoline could also fund out government and lower our taxes.
Imprison the Koch Fascists that are fleecing America with their record profits.
Break up all oil monopolies and NATIONALIZE ALL ENERGY.
Lower taxes and far cheaper gas await.
Total BS ! Here in California (Democrat stronghold) Reg. is $4.59, up .5 cent since last thursday. What a line of pure crap.
Will some anti-Obama idiot hurry up an start their dumb political BS, already??
This is, after all-- the election season.
OOPS! "frumpie" has already started the idiotic anti-Obama reign of terror/error...!!
That's because Obama and his puppet masters need for people to feel good about him, so, hopefully, he'll get their vote.
And gas prices aren't "plummeting". They're dropping a few cents at a time as usual.
Keep spreading gold flakes over the media propaganda. Doesn't make it any less putrid bullsh*t that it is.
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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