Thursday, December 4th, 2008 at 1:50 pm in Misc. Transportation.
Are you starting to feel like we’re in an abusive relationship with the price of gas? Like, with these wild up-and-down swings, absolutely no stability and no sense of control? The good news, of course, is that we seem to be in the upward arc of the cycle, with the CEO of Gulf Oil predicting that gas prices could drop below $1 a gallon by early next year.
Not that I’m complaining, no indeed. On June 18, the average price of a gallon of regular in the East Bay was $4.58. Exactly why it has plummeted dizzily to its current average of $1.90 is certainly an engaging question, one which Gary Richards, “Mr. Roadshow” of the San Mercury News, examined recently. What do you think is behind all this? Commodity traders backing away from oil futures? Falling demand? Anger management?
(Photo by blmurch, on flickr.)