If you’re like us, you’ve been inundated this morning with news stories about how gas prices have dropped 15 cents nationally in the past two weeks!
Great news? Well, it’s not bad news. But it’s hard to see how this helps the economy: At the new average of $3.70 a gallon, gas is still 95 cents more expensive than it was a year ago. That’s a 34.5% increase.
And making near-$4 gas seem normal is great news for OPEC and others who profit off oil desire.
So unless the drop gets much steeper, much faster, the picture to the right still applies.
Pump Prayer Group Claims Credit For Lower Gas Prices
Boone Pickens Loses Big On Oil, Natural Gas Bets: Wind-Farm Ads Worked Too Well
Ford (F) Vows To Kick SUV Habit Even If Gas Prices Drop (F, GM)
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