Tuesday, October 14, 2008


Sometimes I wish I blogged everything as proof of my predictions! But, alas, I do not, so you'll just have to take my word that I totally saw this one coming...
Gasoline prices here have tumbled even more than in most places, to less than $3 a gallon, but drivers say they still aren't filling up their tanks and zooming down the highways.

Instead, the sour economy is prompting them to stick to their new fuel-efficient ways, a pattern that is likely to hold across the country even if gas gets cheaper. This means demand for oil will probably continue to slacken, putting more pressure on petroleum prices.

"There's been a sea change in people's attitudes in terms of gasoline consumption," said Michael Right, a spokesman for the auto club AAA in Missouri. "The economic situation is not conducive to spending more money on energy."

Basically, as gas gets cheaper, demand is remaining stagnant (confirmed in another article, too). This is a good thing, as it will continue to push gas to a cheaper and cheaper price, or at least keep it at where it is. The other day I filled up at $2.85 (about $36 for a tank), which sure beats the $4.45 (about $55 for a tank) I paid three months ago when I went on my Midwestern road trip. Looks like I should have planned it in September! Whoops.