Bad economy is good news at the pump

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Bad news on Wall Street means lower prices at the gas pump, as crude oil settled Friday for $79.20 per barrel.

According to AAA spokeswoman Jessica Brady, the falling prices aren’t likely to stop anytime soon.

“Gas prices continue to decrease as oil prices retreat below $80 a barrel and this trend is expected to continue for quite a while, unless positive news unexpectedly hits the market,” she said.

The current average price for a gallon of regular gasoline in the Augusta area is $3.186, significantly lower than the national average of $3.424 per gallon.

The U.S. isn’t the only economy that is struggling. Brady said reports last week showed that China’s manufacturing index dropped for a third month in a row and European retail sales declined last month.

Across the world, she said, fuel demand continues to falter as weak economies cause consumers to cut back on spending and travel.

THEN AND NOW

CURRENT WEEK AGO MONTH AGO YEAR AGO

Aiken/Augusta: $3.186 $3.260 $3.481 $2.545

Georgia: $3.273 $3.352 $3.582 $2.586

South Carolina: $3.160 $3.236 $3.431 $2.530

National: $3.424 $3.505 $3.647 $2.702

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Frankie-B
48
Points
Frankie-B 10/03/11 - 02:46 pm
0
0
With as much oil as this

With as much oil as this country has it's absolutely pathetic that we're paying over .75c a gallon, and still exporting to foreign consumers.

hotsaucemom
164
Points
hotsaucemom 10/03/11 - 03:04 pm
0
0
Its all a fluke gas prices

Its all a fluke gas prices are subject to increase because of Wall Street greed and protesting. If the economy so bad gas priced should be at $2.80 a gallon right now,seem like the fuel prices want float down below $3.00 with 10% of ethanol mixed with gas that patrons pump into their cars everyday are damaging their engine.I went to Shell gas station (who has the highest fuel prices around town) and filled up my car and drove 10 miles my engine light came on. Patrons are paying high fuel prices for 10% ethanol mixed in their gas, another way to rip you off.Until they remove ethanol from the gas prices should remain under $3.00

sgachief
0
Points
sgachief 10/03/11 - 03:19 pm
0
0
unless you live in

unless you live in Waynesboro, the gas retailers there beginning with walmart are extra greedy! 15 to 20 per gallon higher than the surrounding area.

Street smart
77
Points
Street smart 10/03/11 - 03:20 pm
0
0
Did you know that for every

Did you know that for every gallon of gas you buy, 65 to 70 cents goes right into the pockets of Wall Street traders? Speculation on Wall Street, while currently legal, artificially inflates the price purely to make traders richer. It's just the manipulation of markets for the sale of greed. It has nothing to do with a bad economy but it do have to do with the bad news that tapped Wall street's stock market. When the stock market pick back up gas prices will soar again, lets stop it now. However, their is the Commodity Futures Trading Commission,write them, has the power to stand up for consumers and end Wall Street domination of energy markets.

mc
141
Points
mc 10/03/11 - 05:47 pm
0
0
Its the rich mans game. While

Its the rich mans game. While the middle and lower class are struggle to geet back and forth to work, and losing their homes. The rich are getting richer, making money on oil investments and buying the homes that was foreclosed on, to resell them when the market comes back.

david jennings
624
Points
david jennings 10/04/11 - 07:45 am
0
0
Yeah,I bought gas yesterday

Yeah,I bought gas yesterday for under $3.00 gal. Couldnt believe it.I know it wont last long though,and when it goes back up it will probably be over $4 or more.

nothin2show4it
120
Points
nothin2show4it 10/05/11 - 05:22 am
0
0
While congress sits up in DC
Unpublished

While congress sits up in DC with their thumbs up their &*(#, their Wall Street buddies that they change laws for are making out like bandits. The president released gasoline to the public and it did nothing to bring prices down. With the per barrel price it should be around $2.00 a gallon. The feds ruined the economy now they are allowing it to brought into a depression to take care of their buddies. Lest you think I am talking about the Republicans the Democrats are just as bad when it comes to this. They are all crooks who steal from the public.

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