Gas Prices Fall Due to Weak Demand and Lower Oil Costs

| On 07, May 2012

Gas prices are headed in the right direction these days. Maybe not as low as we need them to be, but falling nonetheless.

The national average for a gallon of gas is $3.77, according to AAA’s Daily Fuel Gauge Report. Prices have fallen nearly 20 cents in the past few weeks.

The economies of both Europe and the United States played a role in the price drop. With shaky recoveries and/or brewing turmoil, consumer demand has been weaker than usual.

Despite the drop in prices, we are still not out of the woods yet. We have not passed the crucial Memorial Day marker. That’s the official start to the summer driving season (i.e., the annual excuse for more ridiculous price increases).

It’s kinda sad when $3.77/gal. gas gives you hope. Now if it was $2.77 or $1.77/gal., I might do a cartwheel.

We as a nation have become too desensitized to financial rape. *sigh*

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