People were driving less. Demand was 1.8% lower than 2010. Prices averaged $3.62/ Gal. What happened (or didn’t) this summer?
Oil came off its highs in May, and drivers were hopeful, but gas prices some how got out of lock-step.
Gasoline demand keeps falling, and now finally US gas futures are starting to show a drop.
Yes, it’s true. Americans are turning to smaller fuel efficient cars.
With gas at $4/gallon, it’s either that or walk part way. Filling the tank of my little Honda Civic last week was nearly $50. Yikes!
Chevy Cruze, Hyundai Elantra, and Ford Focus lead the way in sales in April. Toyota is not in the mix-still recovering from earthquake/tsunami issues.
Oh, and small cars don’t necessarily mean no frills. They come with leathers seats w/heaters and satellite radio along with great mileage.
Get ‘em today. They might not be there tomorrow.
You certainly don’t believe everything you read, do you? Here are 5 myths about gas prices. Read the article, pass it on to 10 friends and your personal gas price will drop (heh heh).
#1. Fighting in Libya is sending prices up. Nope. Less than 2% of the 86 million barrels consumed each day comes from Libya. But all the action there does make people nervous.
#2. Tapping the Strategic Reserve is a good way to control oil price. Are you kidding? It’s only about a 30-day supply at current consumption rates.
#3. Oil companies produce less in the spring to increase oil prices. No again. It’s because what’s in our gas changes from season to season.
#4 The Obama administration is driving up oil prices. Nah!! Politics. Politics. The President can’t control oil prices.
#5. Americans can’t live without cheap gas. It’s somewhere along the lines of ‘If you’ve got ‘em, smoke ‘em’ Of course we can. Europeans have been dong it for decades.
President Obama announced at a press conference today that the Strategic Petroleum Reserves would not be tapped at the moment.
Yes, gas is up to something like $3.50/ gal. Mr. Obama said his administration would consider releasing some of the precious stuff if gas prices keep rising, but for the moment the spigot was closed.
Oil price analysts are saying $5 gas is possible. Summer gas at least $3.75.
What’s your personal plan of action?
Cash for Clunkers ended Aug. 24. US automaker Ford cashed in big time with its Focus and Escape. So did Toyota, Hyundai, and Honda. GM & Chrysler (not many gas-sippers available) were kinda left out.
But now what? Supplies are reduced, but automakers seem to think stability is coming. Production is increasing. Sales are improving. The worst seems to be over for all.