Gas Prices Dropping Like A Rock - $3.50 by Labor Day?

[w¡n9Nµ7 §£@¥€r 123]

Finally, there's some good news about gas prices. They've dropped nationwide by about a nickel, and as CBS 2's Susan Carlson reports, analysts are predicting even bigger drops through the rest of the summer.

...

"We saw a substantial drop in the price of crude oil, which it appears gas station owners were in a hurry to pass on to consumers," said Phill Flynn, Vice President an Senior Market Analyst at Alaron Trading.

AAA reports gas prices in the Chicago area are averaging $4.25 a gallon Wednesday. That's down from $4.27 Tuesday, and $4.33 last Friday.

...

Analysts say right now, gas prices are on track to keep plummeting through the end of the summer.

"We could see $3.70 in the city and if we get really lucky, maybe $3.50 by Labor Day," Flynn said.

http://cbs2chicago.com/local/gas.prices.drop.2.778351.html

[almaty 19]

good news...

[brnidokiegurl 0]

most are filling up here now for 3.45

[almaty 19]

most are filling up here now for 3.45

[eric&gen 0]

Why all of a sudden of a huge drop? I though they where going the roof like past $5.00 to $8.00. Thank god they are bsck down though.

[almaty 19]

Why all of a sudden of a huge drop? I though they where going the roof like past $5.00 to $8.00. Thank god they are bsck down though.

i agree...i heard by labor day over $5.00..and that was a couple of weeks ago

[w¡n9Nµ7 §£@¥€r 123]

Why?

http://money.cnn.com/2008/07/23/news/econo...sion=2008072314

[Dan J 277]

Why all of a sudden of a huge drop? I though they where going the roof like past $5.00 to $8.00. Thank god they are bsck down though.

The tensions between Iran and the US have somewhat cooled. Though we are not out of the park on that one yet, Isreal could mess things up.

High prices have resulted in a decrease in demand.

[one...two...tree 2,762]

Good for the short term, but I hope that if the price continues to drop that the American consumer won't abandon support for long term strategies towards alternative fuel sources.

[panamania79 2]

Finally, there's some good news about gas prices. They've dropped nationwide by about a nickel, and as CBS 2's Susan Carlson reports, analysts are predicting even bigger drops through the rest of the summer.

...

"We saw a substantial drop in the price of crude oil, which it appears gas station owners were in a hurry to pass on to consumers," said Phill Flynn, Vice President an Senior Market Analyst at Alaron Trading.

AAA reports gas prices in the Chicago area are averaging $4.25 a gallon Wednesday. That's down from $4.27 Tuesday, and $4.33 last Friday.

...

Analysts say right now, gas prices are on track to keep plummeting through the end of the summer.

"We could see $3.70 in the city and if we get really lucky, maybe $3.50 by Labor Day," Flynn said.

http://cbs2chicago.com/local/gas.prices.drop.2.778351.html

Finally,some good news.Now it would be nice if the price of everything else would drop also.

[Mommy2ZaidnSalma 11]

I could only pray that this is really true...it costs me almost 50$ to fill my little 4 cyl ford focus!!

[Mr. Big Dog 10,747]

A nickel off 4 bucks in a week is not exactly dropping like a rock. A feather comes down softly like that.

[Niels Bohr 72]

Dammit. I was so hoping that the gas prices go up! Watch out for more crazy drivers when the gas goes down.

[eric&gen 0]

The new cell phone law should be talking care of that problem i notice a difference.

[Dakine 26]

$5.12 9/10 here and at least holding steady. Price NEVER has dropped here.

"NOT lucky we live Hawaii anymore". Most everything is flown or shipped in so EVERYTHING has gone up in price.