Numerous news outlets are republishing the AAA prediction that gasoline prices will drop to levels not seen since 2011, when the average price of gas nationwide retailed for under $3.20 per gallon.
The chart above shows the average price of gas in the United States over the past month, as tracked by gas price tracking service Gas Buddy. The AAA points at this chart and the dropping price of crude oil and predicts the price of gasoline will drop another 15 to 20 cents per gallon by Christmas.
I’ve dismissed the opinions of oil marketing expert Trilby Lundberg before, but in this case I agree with her recent assessment that prices won’t drop much more. Thanks to the Federal government shutdown, nearly a million Americans didn’t drive to work during the first two weeks of October, and uncertainty leading to the shutdown put the brakes on economic activity nationwide.
We’re still on shaky economic ground, but it’s marginally more firm than the quicksand of just 10 days ago. More economy = more spending = more driving in America, so I think we won’t see much movement in the price at the pump.
File this under Prognostications. Feel free to come back in January to mock me. Bike and other transportation news below.
Yet Another Study (this one from MIT) shows car exhaust kills people.
Public access to some of those corporate shuttle buses in Mountain View?
Bike to work event raises awareness in Santa Cruz County, California.
Citizens speak out with their suggestions to prevent bike theft in Santa Cruz.
Cultivating conversations at Bike Bike New Orleans.
San Francisco Muni bus kills 78 year old cyclist Cheng Jin Lai.