U.S. gasoline prices fall to four-year low -Lundberg survey

[Omaha Steve]

Source: Reuters

BY MICHELLE CONLIN

(Reuters) - The average price of a gallon of gasoline in the United States has dropped one dollar since early May, the lowest price in more than four years, according to the Lundberg survey released Sunday.

Prices for regular-grade gasoline fell to $2.72 a gallon, down 12 cents since the last survey two week ago.

The recent drop has been compared by many to the extreme price plunges that took place after the 2008 recession.

The decline in prices was driven by slower demand coupled with dramatic growth in oil supply production, especially in North America and Canada. The strengthening U.S. dollar also played a role.

FULL story at link.



Read more: http://www.reuters.com/article/2014/12/07/usa-gasprices-idUSL1N0TR0KE20141207

[Stargleamer]

1. I don't think the San Francisco Bay Area has yet gotten the news. . . n/t

[C Moon]

2. I filled the tank of my Corolla Saturday night, and couldn't believe it.

I think it's a dollar cheaper than last year.
Still, I'm not celebrating: correct me if I'm wrong, I think some of this price drop is due to fracking?
Or is that just natural gas?

[DeSwiss]

3. ''Thar she blows!!!''

- The deflation begins. Followed by the inflation. And then nothing. (AKA: ''last breath'')



K&R