Gas Prices Continue To Fall

Alabama Gas Prices Gasoline prices continue to tumble as
Alabamians prepare for the Thanksgiving holiday.

by The Associated Press

Published: Mon, November 24, 2008 - 8:17 am CST

MONTGOMERY, Ala. (AP) - Gasoline prices continue to tumble as
Alabamians prepare for the Thanksgiving holiday.
AAA Alabama reports the statewide average for regular is $1.87
Monday. Regular fuel has fallen below $2 a gallon for the first
time since March 2005.
Midgrade averaged $1.95 and premium is at $2.01 a gallon.
Diesel fuel also tumbled below the $3 figure for the first time
since September 2007. AAA said the statewide average for diesel is
$2.74 per gallon.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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BamaBob Says:

Mon, Nov 24, 2008 at 5:32 pm

I think it was a combination of conservation and complete fear. People stopped driving as much and speculators got out of the oil market because they were afraid of the DOW.

DEW26M Says:

Mon, Nov 24, 2008 at 5:08 pm

It’s cheap because people proved to the Big Oil companies that if you jack the price up, we will learn to conserve. Less demand means lower prices. Or at least this is my philosophy. However as the price falls, people will begin to slip back into their old ways, driving the cost up again.