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- Average price for a gallon: $2.735CNN Money: Gas prices fall again (October 25, 2008)
- The national average is 33.5%, off the record high price of $4.11 reported July 17CNN Money: Gas prices fall again (October 25, 2008)
- Oil prices: around $64 a barrelTIME: What's Behind (and Ahead for) the Plunging Price of Oil (October 24, 2008)
- Road travel fell 3.6 percent during July, and 5.6% in AugustGuardian: U.S. gasoline price (October 12, 2008) TIME: What's Behind (and Ahead for) the Plunging Price of Oil (October 24, 2008)
- OPEC announced a 1.5 billion barrel a day production cutTIME: What's Behind (and Ahead for) the Plunging Price of Oil (October 24, 2008)
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Gas prices dropped below $3 a gallon, the lowest prices in a year, on October 25, 2008. Many analysts credited sharply declining oil prices and diminished demand for gasoline as driving forces behind the drop. FOX News: Gas Prices Record Largest-Ever Drop, Close In on $3 (October 13, 2008) CNN Money: Gas prices fall again (October 25, 2008)
The principal underlying reasons remain the anticipated 2008 Recession and Global Credit Crisis, which affect global markets and reduce the need for energy in a slowing economy.Guardian: U.S. gasoline price (October 12, 2008)
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U.S. Gas Prices Drop Questions
Why do gas prices change on a daily basis? 7 AnswersThey change because they have to stay competitive with other gas stations. if gas station A receives gas on monday for $2 and gas station B on tuesday for $1.9... read more
Why have gas prices suddenly dropped after hitting such a record high? Is the price swing real or manufactured 10 AnswersThe short answer is that the recession has reduced the demand for oil consumption worldwide. This has caused the price to fall since supply is essentially cons... read more
Do you really think that the gas prices will shoot back up into the 4 and 5 dollar range? 6 AnswersOil is not a renewable resource. So, as the oil runs out (however long it may take), the price will be increase. Also, as others have mentioned, there is the... read more
What is price? 2 AnswersThe blob of text above is cut and pasted from your Amazon profile, and doesn't help clarify what it is about price pressures you don't understand. In fact, it s... read more
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