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Gas price decline nears 40 cents
Wednesday, August 20, 2008
CNN Money -- NEW YORK (CNNMoney.com) -- Gasoline prices have fallen nearly 40 cents a gallon from their record highs after 34 straight days of declines, according to a daily survey released Wednesday.

The price of regular gasoline fell to $3.717 a gallon from $3.73 a day earlier, according to a survey of gas station credit card swipes from motorist group AAA and the Oil Price Information Service.

Gas prices have fallen more than 9% since hitting a high of $4.114 a gallon on July 16. The drop mirrors a 22% decline in crude price futures from their record high of $147.27 a barrel.


Visit CNN Money for full article

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JT
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Message Posted: 8/20/2008 11:03:11 AM  Ignore JT Report Abuse
Wednesday, August 20, 2008
CNN Money -- NEW YORK (CNNMoney.com) -- Gasoline prices have fallen nearly 40 cents a gallon from their record highs after 34 straight days of declines, according to a daily survey released Wednesday.

The price of regular gasoline fell to $3.717 a gallon from $3.73 a day earlier, according to a survey of gas station credit card swipes from motorist group AAA and the Oil Price Information Service.

Gas prices have fallen more than 9% since hitting a high of $4.114 a gallon on July 16. The drop mirrors a 22% decline in crude price futures from their record high of $147.27 a barrel.

Visit CNN Money for full article
REPLIES (newest first)
letmathe
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Chicago

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Message Posted: 8/21/2008 11:34:22 AM  Ignore letmathe Report Abuse
yeap
jcross0
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Orange County

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Message Posted: 8/21/2008 11:28:24 AM  Ignore jcross0 Report Abuse
this is all just crap
qwikss
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Phoenix

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Message Posted: 8/21/2008 11:24:21 AM  Ignore qwikss Report Abuse
Barrel of oil goes up then gas rises instantly. Barrel of oil goes down then a slight decline in gas prices over the course of many weeks. We are not stupid.
drthunder
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New York

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Message Posted: 8/21/2008 11:21:35 AM  Ignore drthunder Report Abuse
that good
rjb21760
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Chicago

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Message Posted: 8/21/2008 11:20:48 AM  Ignore rjb21760 Report Abuse
Still not in pace of oil's drop
simplyhelpful
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Jackson

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Message Posted: 8/21/2008 11:18:06 AM  Ignore simplyhelpful Report Abuse
Hey Guess what!!!! The market prices on Crude are up almost $6/barrel this morning and what's the reasoning this time???? Any Ideas??? Must be because of Fannie and Freddie!! Although they are unrelated it drives the price up wonderful!!!
TBoneSoCA
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Orange County

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Message Posted: 8/21/2008 11:15:02 AM  Ignore TBoneSoCA Report Abuse
I am sure this drop will only be temporary...
firebirdv8
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Ohio

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Message Posted: 8/21/2008 11:14:20 AM  Ignore firebirdv8 Report Abuse
down down down !!!
ramshot412
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Riverside

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Message Posted: 8/21/2008 11:14:11 AM  Ignore ramshot412 Report Abuse
Wait till next spring....$5.50 a gallon?
NavyEOD
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Los Angeles

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Message Posted: 8/21/2008 11:11:29 AM  Ignore NavyEOD Report Abuse
But still $1 more than a year ago.
chd2008
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Georgia

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Message Posted: 8/21/2008 11:10:35 AM  Ignore chd2008 Report Abuse
It's still not enough!
evasilion
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Virginia Beach

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Message Posted: 8/21/2008 11:03:46 AM  Ignore evasilion Report Abuse
Keep declining.
Don20
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Oklahoma City

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Message Posted: 8/21/2008 11:02:58 AM  Ignore Don20 Report Abuse
That is good, lets keep it coming down...
Lovelee
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Detroit

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Message Posted: 8/21/2008 11:02:07 AM  Ignore Lovelee Report Abuse
Keep going down for another 340 days!
bobsalwaysmt
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Long Island

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Message Posted: 8/21/2008 11:01:14 AM  Ignore bobsalwaysmt Report Abuse
It needs to come down over $1.00
tz2001
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Virginia

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Message Posted: 8/21/2008 11:00:53 AM  Ignore tz2001 Report Abuse
Now that gas is "cheap" again lets have everybody jump back into their SUVs and go blasting down the highway at 90 mph so that the demand will push the price higher again!
NoodlyWee
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Orange County

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Message Posted: 8/21/2008 11:00:48 AM  Ignore NoodlyWee Report Abuse
Just wait . . . after Olympics and whatever comes of the Florida Floods. Excuses #350 and 351 to raise prices again.
dabuzman
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Seattle

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Message Posted: 8/21/2008 10:59:40 AM  Ignore dabuzman Report Abuse
Only hope it keeps declining at least 80 cents more.
Cyberpeep24
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Oakland

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Message Posted: 8/21/2008 10:59:23 AM  Ignore Cyberpeep24 Report Abuse
Think positive and keep conserving
Gorlock
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Toledo

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Message Posted: 8/21/2008 10:56:55 AM  Ignore Gorlock Report Abuse
The olympics will end soon.
jrobbie
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St. Louis

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Message Posted: 8/21/2008 10:56:27 AM  Ignore jrobbie Report Abuse
Oil prices will be up over $120/barrel today.. so we can kiss those 34 straight days of gas declines good-bye.
NissanGirl
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Oregon

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Message Posted: 8/21/2008 10:56:16 AM  Ignore NissanGirl Report Abuse
I hope it keeps going down.
jerminator
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Madison

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Message Posted: 8/21/2008 10:55:08 AM  Ignore jerminator Report Abuse
sure, big oil likes it. up 90 cents, down 40...... so they are still up 50 cents/gallon.
Gerund1
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Toronto

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Message Posted: 8/21/2008 10:54:48 AM  Ignore Gerund1 Report Abuse
I just wish I was close enough to the border to take advantage of the much lower US prices.
ezot92
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Twin Cities

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Message Posted: 8/21/2008 10:54:25 AM  Ignore ezot92 Report Abuse
50 cents
BM4225
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Atlanta

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Message Posted: 8/21/2008 10:53:56 AM  Ignore BM4225 Report Abuse
Well I need to see another 20 cent drop so I can get my anual cost to get lower.
yeehaw1073
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Indiana

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Message Posted: 8/21/2008 10:51:29 AM  Ignore yeehaw1073 Report Abuse
Yeah, prices may be down from the spike but how about versus prices at this time last year? I'd have to bet on higher...by somewhere in the vicinity of 60%
laddyboy62
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Riverside

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Message Posted: 8/21/2008 10:50:23 AM  Ignore laddyboy62 Report Abuse
almost 60 cents here from a month ago...but of course this is calif
kypeanuts
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Louisville

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Message Posted: 8/21/2008 10:48:10 AM  Ignore kypeanuts Report Abuse
not here
DarthDadJr
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Virginia

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Message Posted: 8/21/2008 10:47:56 AM  Ignore DarthDadJr Report Abuse
Keep conserving and it will drop again!
maindrag
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Ontario

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Message Posted: 8/21/2008 10:47:31 AM  Ignore maindrag Report Abuse
how come we don't see this at the pumps?
kiddglock
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Kansas

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Message Posted: 8/21/2008 10:47:09 AM  Ignore kiddglock Report Abuse
GO, GO, GO, GO!
TwoEyes
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New Haven

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Message Posted: 8/21/2008 10:37:47 AM  Ignore TwoEyes Report Abuse
probably no decline today -- oil has spiked up $4.44 to over $119/barrel.
JewishJoe
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Pennsylvania

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Message Posted: 8/21/2008 10:36:14 AM  Ignore JewishJoe Report Abuse
All it's going to take is one category 2 or 3 hurricane along the eastern Texas or western Louisiana coast where all the oil rigs are. Then we'll tack on another 1 or 2 dollars per gallon. It's still not out of the question for Tropical Storm Fay to head in that general direction. If it heads west in the Gulf and strengthens, we're in trouble. I'll feel better about gas prices going down once hurricane season 2008 is over.
smokin2win07
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Tennessee

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Message Posted: 8/21/2008 10:35:53 AM  Ignore smokin2win07 Report Abuse
I'm still waiting for it to drop.
Austin1850
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Austin

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Message Posted: 8/21/2008 10:35:46 AM  Ignore Austin1850 Report Abuse
needs to decline a dollar, that would be news.
Nofries
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Atlanta

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Message Posted: 8/21/2008 10:35:02 AM  Ignore Nofries Report Abuse
60 cent drop here.
gouging
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Illinois

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Message Posted: 8/21/2008 10:34:52 AM  Ignore gouging Report Abuse
NOT HERE GAS IS STILL 3.92 IN ROUND LAKE IL.THEIR GOUGING THE HELL OUT OF US IN THIS AREA.
AKTigger99645
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Anchorage

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Message Posted: 8/21/2008 10:33:50 AM  Ignore AKTigger99645 Report Abuse
Then they'll just add to the price because the heating season's startin
JewishJoe
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Pennsylvania

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Message Posted: 8/21/2008 10:32:52 AM  Ignore JewishJoe Report Abuse
.

[Edited by: JewishJoe at 8/21/2008 10:35:48 AM EST]
ElCubano
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Miami

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Message Posted: 8/21/2008 10:30:13 AM  Ignore ElCubano Report Abuse
always the short endof the stick!!!!
10k
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North Carolina

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Message Posted: 8/21/2008 10:30:09 AM  Ignore 10k Report Abuse
we're supposed to be thrilled by a whole 40 cent drop ??? that's like a thief stealing $100 from you, then giving you $9 back for the tolls...i really really really hate big oil...
hugrad2005
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Kansas

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Message Posted: 8/21/2008 10:30:09 AM  Ignore hugrad2005 Report Abuse
Why the difference? Those people are so worried about losing their money that they can't drop the prices to reflect their lower cost. What's with that?
jdbgn
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Los Angeles

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Message Posted: 8/21/2008 10:29:59 AM  Ignore jdbgn Report Abuse
Whoop te do.
Still way too high.
Caspertherat
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Arkansas

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Message Posted: 8/21/2008 10:29:41 AM  Ignore Caspertherat Report Abuse
I agree with amacquarrie. But those poor speculators have to bet the spread and they need all the margin they can find.
amacquarrie
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Nevada

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Message Posted: 8/21/2008 10:27:22 AM  Ignore amacquarrie Report Abuse
that makes no sense - 9% compared to 22%
Roo08
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Grand Rapids

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Message Posted: 8/21/2008 10:25:40 AM  Ignore Roo08 Report Abuse
9% drop in price of gas is not a mirror image of 22% drop in crude. If only gas had dropped 22% many of us wouldn't be so ticked off!
gstoney
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Ontario

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Message Posted: 8/21/2008 10:22:32 AM  Ignore gstoney Report Abuse
Not Here in Brantford, We are still getting Ripped Off!
Arktander
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Illinois

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Message Posted: 8/21/2008 10:22:01 AM  Ignore Arktander Report Abuse
Everyone thinks it's some relief, but then they forget that it was even lower than this when it started it's run up.
AnObserver
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New Jersey

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Message Posted: 8/21/2008 10:18:59 AM  Ignore AnObserver Report Abuse
Even more in NJ
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