Gas prices back down again
It’s unusual to see gas prices dipping in the summer, but that’s what we’re seeing.
“After weeks of speculation-driven increases, crude oil has surrendered to basic market fundamentals: too much supply and too little demand,” said Martha M. Meade, manager of public and government affairs for AAA Mid-Atlantic.
Has to make you feel good, doesn’t it, knowing that it was the speculators at it again artificially driving up gas prices? But that’s what happened, and now that that bubble seems to have burst, prices are coming back down on crude oil dropping back below the $60-per-barrel mark at the close of trading on Friday.
That’s pushed the price of a gallon of regular unleaded in Virginia to $2.39 a gallon as of this morning, down from $2.50 a gallon a week ago. I’ve seen individual stores in the Greater Augusta area offering regular unleaded for $2.25 a gallon in recent days.
- Story by Chris Graham
Related posts:
- Gas prices continue climb Regular unleaded is over $2.50 a gallon in Virginia now, and with crude oil breaking the $70-a-barrel barrier, the pain at the pump is only...
- Business and Economy: Gas prices trending downward Story by Chris Graham freepress2@ntelos.net Who woulda thunk we’d all be so a-flutter over $3.42 a gallon? That’s what a sustained period of artificially high...
- Gas prices pushing back over $2-a-gallon mark You’ve probably already noticed it, but just to confirm – yep, gas prices are spiking again. A streak of several weeks with prices at the...
- Slight dip in gas prices in advance of the Fourth I would caution against getting too excited, but good news on the gas-price front is good news on the gas-price front. “After nearly two months...
- Gas prices at recent high Gas prices are up 40 cents a gallon from where they were a month ago, as a refueling economy has pushed demand. The average for...
