Saturday, November 1, 2014

Average US gas price falls to below $3 a gallon!

 - by New Deal democrat

According to price graphs from GasBuddy, in the last 24 hours average gas prices in the US nationwide have fallen to $2.99 a gallon:

Here's the same graph expanded to the last 4 years:

This may seem tiny.  After all, if I bought $50 of gas a week one year ago, and the price falls by 10% compared with a  year ago, that only means an additional $5 in my pocket.  But for many lower income families, that $5 is a significant addition to the ability to support themselves.  Now multiply by about 130 million households for just one week's impact on the economy.

I have no idea how long this will last.  But for now, this is about as close to unalloyed good news as you can get.