Gas Prices Likely Will Keep Dropping

That's what this USA Today article is suggesting. Here's the main section of the article:
"The only place they have to go is down," says Fred Rozell, gasoline analyst at the Oil Price Information Service (OPIS). "We'll be closer to $2 than $3 come Thanksgiving." Travel organization AAA foresees prices 10 cents a gallon lower by the end of next week. It reported a nationwide average of $2.84 Tuesday, the lowest since April 20.

It's good news for consumers and the economy. Continued lower prices "may act like a tax cut" and stimulate spending, says Richard DeKaser, chief economist at National City in Cleveland. He calculates that higher energy prices the first six months cut growth of consumer spending 1 percentage point.
When AAA makes gas price predictions, it's usually a reliable forecast. The other forecasts seem to be bolstered by anecdotal evidence of dropping prices at the pump. It might also signal a drop in demand caused by an economic slowdown. We'll have to see if what's causing the drop. Either way, it's welcomed.


Posted Thursday, August 31, 2006 8:17 AM

July 2006 Posts

No comments.

Popular posts from this blog

March 21-24, 2016

Image
Mar 21 01:28 SCSU's budget cuts? Mar 21 02:29 When will the Range change? Mar 21 08:54 DFL's Marty in charge of environment Mar 21 11:45 OLA report, DFL & Meyer Associates Mar 23 12:48 Liberals' definition of moderate Mar 23 14:37 DFL activists: Government is racist Mar 24 08:59 IRRRB: Revamping vs. scrapping Prior Months: Jan Feb Prior Years: 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 SCSU's budget cuts? Cuts in Athletics at SCSU - Will it Really Save Money? by Silence Dogood With a $6,000,000 "structural deficit" and the need to "rebuild reserves by at least $3 million," SCSU has a $9,000,000 hole in its' FY17 budget. It doesn't take a Noble Prize in economics to figure out that reductions in expenditures (i.e., cuts) are going to be made at SCSU. On the Wednesday before Spring Break, SCSU President Dr. Earl H. Potter sent an email to the campus community announcing cuts to the athlet
Read more

October 31, 2007

Oct 31 01:01 Media Matter's Alter Ego? Oct 31 03:32 Iraqi Civilian Casualties Dropping Oct 31 10:52 Hillary's Panderfest Blows Up in Her Face Oct 31 13:15 Brod, Emmer Call For Investigation of Mark Ritchie Oct 31 19:43 Ritchie's 'Episode' a Tempest in a Teapot? Prior Months: Jan Feb Mar Apr May Jun Jul Aug Sep Prior Years: 2006 Media Matter's Alter Ego? One Media Matters-like organization is already too many. It appears as though there's another liberal apologist blog out there. Their name is News Hounds . The post that caught my attention dealt with last weekend's interview of Justin and Darryl Sharraltt on Hannity's America. To say that their post didn't attempt to refute Justin's story is understatement. In fact, they jump right into criticizing Mr. Hannity: Last night's (October 27th) Hannity's America was a strange magazine format which combined stories about mediums and haunted houses
Read more

January 19-20, 2012

Image
Jan 19 02:57 Minnesota Majority report an indictment against Minnesota's election integrity Jan 19 03:41 Ron Paul's Logic Jan 19 08:08 Newt thrives despite Mitt's hatchet job efforts Jan 19 09:19 Potential Game-Changer: Perry dropping out this am Jan 20 05:12 Newt takes Sen. Santorum to proverbial woodshed Jan 20 00:56 ABC, CNN, crawl into bed with National Enquirer Jan 20 04:00 Child Care small businesses file federal lawsuit Jan 20 04:41 Mitt's biggest policy blunder Jan 20 18:58 Gingrich, Reagan re-united Prior Years: 2006 2007 2008 2009 2010 2011 Newt takes Sen. Santorum to proverbial woodshed Rick Santorum was really feeling it Thursday night. Then he said something that's certain to cause him pain this morning. Here's what he said that got him in trouble: SANTORUM: But you also have to admit that this freshman congressman who wasn't supposed to win a race came and did something you never did, which is blew the li
Read more