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.