Americans saving $200 million a day because of lower gas prices

Fuel Fix:
...
A gallon of gasoline averaged $2.10 a gallon in the Houston area on Sunday, down 11 cents from the previous week and 35 cents from a month ago. Local gas prices were also about 8 cents a gallon lower than a year ago.

Nationally, gasoline prices fell 10 cents a gallon to an average $2.43, down 31 cents from a month ago and 3 cents from a year ago. Gasoline for less than $2 a gallon is available at gas stations in at least 27 states, including Texas, up from 18 states a week ago.

The sharp decline has followed the slide in crude oil prices, which have plunged from more than $76 a barrel in early October to just above $50 a barrel recently. Average gas prices nationally have fallen The national average has fallen nearly 50 cents a gallon during that period.

That translates to savings of about $200 million a day for Americans, said Patrick DeHaan, head of petroleum analysis for GasBuddy. DeHaan predicted that gasoline prices will fall further in the coming days, but how long that will last is unclear.
... (Emphasis added.)
Local prices have been hovering around the $2 a gallon level in recent days.  I have seen some posted for less on recent trips into Houston.  The current price is still profitable for many producers in the Permian Basin fracking wells thanks to the innovation and efficiencies the industry developed during OPEC's predatory pricing attempts to drive them out of business.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more