A painful memory- something to be thankful for…

It’s been quite a downhill in gas prices since nearly three months ago. I remember filling up at $3.77 thinking it might go up. It’s been about two months since that day and gasoline really has only taken one temporary price hike. Let’s all be thankful. Don’t dive into that too much, it comes at deep expense- our economy, livelihood, freedom, and more. We’re in a recession, and it couldn’t have come sooner- food prices had been grossly inflated, energy prices were sky high, etc. In my mind, as I’ve said, this was the only way to fix the problem- a recession. I hope none of you have lost jobs because of it (which is why I said cheaper gas comes at a high cost), but if you have, I hope you find work soon. I am blessed to have a job.

Anyway, here’s where we were in early September:

Today:

For a 20-gallon fillup, the net savings is $2.59/gal, $51.80 CHEAPER PER FILLUP.

9.0 million barrels of gasoline consumed daily according to the DOE… savings PER DAY for the United States since peak:
9*42=378,000,000gal/day*2.59= $979,020,000 SAVINGS PER DAY.

That’s almost a billion dollars per DAY that we’re saving from the peak. Amazing.

2 Comments

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  1. AMEN Patrick! I’ve knocked 36% off my gasoline bill in the past month. 2/21 thru 10/14 was 286.57 while 10/21 thru 11/17 was only 184.50 Toss on top of that the Exxon/Mobile .30 cent rebate and the savings are even more substantial. Thats money that stays in MICHIGAN to spend here with local retailers and restaurants…its in my pocket where it belongs to be spent here WHERE IT BELONGS!
    And I agree that the recession can be a good thing. It brings REALITY BACK to prices. But the BAD part is unemployment for many. I have a good job that so far has been recession proof but as to how long? Thats the unknown factor for all of us!
    Falling commodity prices in foodstuffs will help drop grocery prices in the long run but we have yet to see those savings passed on to the consumer. I looked at carload lots of western hard wheat going to King Milling in Lowell and was amazed at what it was worth when wheat was around 6 to 7 dollars a bushel. Now its much lower and thusly flour prices should go down along with the many products produced. Hopefully King Milling didn’t lock into that high price as did VeraSun in Sunfield. Amazing how fast ethanol has fallen from grace!!!
    Nuff 4 now.
    Dan in Rockford

  2. Who can forget that ugly sign on the top. WOW!! Hard to believe prices have fallen so much so fast. Almost kind of scary.

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