U.S. Gasoline Price to Fall Below $3 for First Time Since 2010

[Purveyor]

Source: Bloomberg

By Stephen Cunningham Oct 31, 2014 11:48 AM ET

The national average price of gasoline will drop below $3 a gallon tomorrow for the first time since December 2010, Heathrow, Florida-based motoring group AAA said today in a statement.

Sliding prices are seen saving the typical consumer $500 a year and are coming just in time to boost spending during the holiday shopping season, according to analysts including IHS Inc. The bonus at the pumps represents the biggest benefit to consumers to date from a record boom in domestic oil production that has contributed to a global crude glut and helped bring down international prices.

Read more: http://www.bloomberg.com/news/2014-10-31/u-s-gasoline-price-to-fall-below-3-for-first-time-since-2010.html

[snooper2]

1. $2.62 this morning, Thanks Obama!

LOL

[underpants]

8. $2.52 w/ Kroger pts. 10.6 gallon tank read 535 miles

That was on Wednesday.

Thanks Obama!!! Indeed.

Remember the $4.00 bumperstickers? LOL

[blue sky at night]

2. Where has this guy been....

its been under 3 for some time now in Ohio!

[Purveyor]

3. We just slipped below 3 earlier this week. Todays price is 2.94. For me, that

is an additional $80 a month I can do something else with.

If we could only get meat prices to come down now...

[Blue_Adept]

15. He's been paying attention to the right numbers

Notice that it says very early on "NATIONAL AVERAGE"? Not "Gas prices in this persons area here"

It's still not under $3 in MA outside of specialty places with discounts. But that's why we use averages.

[taught_me_patience]

4. Let's all rush out and buy trucks

dino juice is gods gift to Americans. Burn baby burn!!!

[DarthDem]

5. A Boost in DOMESTIC OIL PRODUCTION . . . REALLY!!!!

Who knew that would be a good idea? I'm glad someone pursued that outlandish concept!!

[Kelvin Mace]

7. Gosh, I wonder if oil companies might not

be dropping the price to help with their arguments for fracking and the Keystone Pipeline?

[Lenomsky]

9. +1

EOM

[logosoco]

11. Those are my exact suspicions! nt

[Psephos]

14. The price is actually being manipulated by government.

Cynics would say there's a strange correlation between gas price dips and elections.

Realpolitik fans will say it's a warning for Putin and others who are disrupting US/Saudi interests.

I vote #2.

[NickB79]

18. Cause releasing more planet-cooking gases is a really, really good idea, right?

It's about as good an idea as a 3-day meth bender: feels good in the short term, will kill you long-term.

Enjoy the devastated ecosystem.

[DarthDem]

21. Oh, Stop Being Silly

Drama queen much?

[Kelvin Mace]

6. I saw $2.57 while in Martinsville, VA

I have seen $2.79 here in NC.

[BumRushDaShow]

10. I paid $3.26 the other day just outside of Philly and was grateful for that. nt

[WhiteTara]

12. Thanks Obama!

[WI_DEM]

13. Damn that Obama!

[Major Hogwash]

16. This can't be good news . . . for Michele Bachmann!!!

I wonder what she will call the corn dog stand that she will be managing next summer when she goes to the state fair!

[Dont call me Shirley]

17. Thanks Obama and Costco $2.62 today

[4dsc]

19. As predicted...

nothing really new about this.

[leftyladyfrommo]

20. $2.86 here in KC today.

It went down to $2.79 and then went back up to $2.89 and now it's in decline again.

Yea!