Gasoline Near Five Year Low

by MB on December 30, 2008

According to a  AAA survey, gasoline now costs $1.619 per gallon.  This is the lowest level since January 2004 when gasoline averaged $1.617 per gallon.

Gasoline is now down $2.50 per gallon since its record high of $4.114 in July of this year.

The falling price of oil is behind the drop in gasoline.  Oil now costs $100 per barrell less than it did in July.  This decline is due to less demand from abroad and from Americans driving less.

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