Wednesday, October 22, 2008

Gas Prices Are Falling

In the past two months the price of gas has dropped over $1.00 per gallon.  At this moment the average prices of a gallon of regular unleaded is around $2.80 although prices vary from state to state.  However, it doesn't need to stop there but appears it might.  OPEC has recently made the decision to cut production which will increase the price of oil due to the wonderful economics of supply verses demand.  This has not affected the markets as the cost of oil is and in retrospect the cost of gas is continuing to drop.  The reason for this is mostly due to the current economic situation with the markets reacting to a possible recession which appears to be on the horizon at the moment.  You as the reader are probably thinking "we are in a recession now".  This brings me to my next topic I would like to discuss.

Everyone is interested in saving money.  The price of gas at your favorite corner station and convenience store may not be the cheapest in the neighborhood.  I've seen prices differ in my own neighborhood by 20 cents or more.  Thanks to the Internet there are many websites one can check to see what gas prices are and even report them if they have changed.  The following links are a small collection of these websites.  I'm sure there are many more and welcome any feedback to let me know what website you like to use.  The list below is by no means an endorsement of any kind.