Credit goes to Virginia Virtucan for breaking this story on his blog and linking the articel from Seattle on this one.
As well know, gas prices have been really high for quite sometime. Many of us long for the days of when gas was only a dollar and filling up in the gas station did not mean you had to thinkin your head about how much of your budget you could spare for gas alone. A few months back I had read over at Drudge Report how oil prices were going to fall towards the end of the year and that gas prices themselves would go extremely low.
Now it appears a story I thought was hopeful, but maybe along the lines of far fetched, could be coming true. With the price of oil dropping $14 since July, and oil stockpiles going up, it seems as if the markets might be readjusting to things in the early 21st century. Assuming if we do not have a really cold winter this year, there is a real chance gas prices could drop not only below two dollars, but could go down to levels lower that $1.50.
In thinking about my own car, filling up 8 gallons in the car means I might have to only pay $12 or less for gas. Now that is a good bargain! If the prices were to go down to $1.15 as the article Virtucon describe, then my car would cost less that $10 to fill up!
Now granted, none of us want to get ahead of oursleves when it comes to gas prices. But considering how fast the prices have been going down as of late, there may be some major truth to all of this. In driving to and from work, the highest gas price seen on Lee Highway is $2.71, while the lowest is set at $2.61. It would not surprise me if by the end of the month gas were down to $2.50 or less.
Already, if you drive past Manassas and get down to Warrenton, the prices are at least thirty cents cheaper. So could happy days be here again? I would like to think so. Think of the benefits of all that extra money!