Gasoline prices post biggest fall in nearly 4 years
Reuters
7:41 a.m. CST, November 5, 2012
The average U.S. price for a gallon of regular gasoline took its biggest drop since 2008 in the past two weeks, due to lower crude oil prices, a big price drop in pump prices in California and Hurricane Sandy, according to a widely followed survey released on Sunday.
Gasoline prices averaged $3.5454 per gallon in the United States on Nov. 2, down 20.75 cents from Oct.19 when drivers were paying $3.7529 at the pump, Lundberg said. The decline was the biggest two-week price drop since the survey recorded a 21.9 cents price decline Dec. 5, 2008 due to a crash in petroleum demand during the global recession.
In Chicago, gas prices averaged $3.599 Sunday, down a penny from last week, according to the AAA Fuel Gauge report. Prices are down 10 percent from a month ago when regular gasoline averaged $4.01 in the Chicago area.
Even though many people had to line up for gasoline for hours after Sandy devastated much of the Northeast coast, the storm played a part in the price decline as many would-be consumers were not able to travel as a result, according Trilby Lundberg, editor of the Lundberg Survey.
Lundberg also cited the seasonal dip in demand that typically comes after August.
more
http://www.chicagotribune.com/business/breaking/chi-gas-prices-lowest-in-4-years-11052012,0,6351166.story
Must be all those oil companies in the bag for Obama! 
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