New York – The price of gasoline has dropped to the lowest level in five months, giving motorists some relief ahead of the July 4 holiday.
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The national average fell below $3.40 per gallon on Tuesday. It has fallen steadily since peaking at $3.94 in April as oil prices dropped and supplies of summer-grade gasoline grew around the country. Gas is now below $3 in South Carolina and under $4 in every other state in the continental U.S.
Altogether, the drop in gasoline prices should save Americans roughly $200 million per day at the pump. Yet the savings hasn’t encouraged motorists to drive — and spend — more this summer. Motorists are buying about 5 percent less gasoline than they did last year, and consumer confidence fell again this month.
Hey, since it was “Obama’s fault” that prices were so high earlier in the year, it is now because of his leadership that they have dropped so low, right. Or, is there perhaps a whiff of hypocrisy on the far right?
This is terrible what this democratic president is doing to us. How can we survive when he makes prices go down. We have to vote republican so the prices should go up even higher.
its scary to see how you guys are just so blind and cant see the truth. i would advise you to look at comment #3. i might be a bit en lighted.
Its funny how these are “low” prices at 3.65. is it better than 4.25? Absolutely. But this is the price you and me were complaining about the past few years, and I dont sellout to these clever marketing schemes that make you think its cheap now. its not. if i charge 10 dollars a slice tomorrow then on thursday you’ll be very happy a slice is 4 dollars. but its still insane.
What else do you expect its an election year. Obama will do anything under his power to have prices at the pump rolled back. He ran a campaign in 2008 that higher gas prices were Bush’s fault. Whoops I guess you can’t have it both ways.
If he was a true leader for the betterment of the country he would have congress pass a bill raising the requirements on speculating.
The price of a gallon of oil has dropped 30% over the last 2 months, from $110, down to $78, so one would think the price of gas at the bump would follow and also drop 30%. No, it has dropped around 10%. I know it takes a bit of time to catch up, but if the average price was $3.90 it should drop 30%, or $1.17, to $2.73