Gas prices in Richmond have fallen as low as $2.69.
Crude oil ended the week at less than $80 a barrel.
Iran is freaking.
Iran on Saturday called for stability in the oil market, saying the biggest challenge now was a decline in the demand for oil due to a global economic recession.
The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below US$78 as investors grow more pessimistic about resolving a mushrooming global economic crisis.
“We have to look for market stability because this matter is very important both for producers and consumers,” Oil Minister Gholam Hossein Nozari told reporters.
Some people think it may fall all the way to $60. Here’s hoping.
So, what are gas prices like in your neighborhood?
I’m in Chicago- home of the 10.25 % sales tax.
It was around $3.80 last time the Husband filled up the tank.
Comment by annoying little twerp — 10/11/2008 @ 11:34 pm
The lowest I’ve seen is is $2.89 in Newport News it is generally below $3.00 on the southside…which means NOTHING to me as I drive a diesel (expletive deleted by standards and practices).
Comment by Ken Talton — 10/11/2008 @ 11:37 pm
It was about 3.50 here in Western Oregon when I filled up the other day.
That was regular.
Comment by Michael Lonie — 10/12/2008 @ 1:01 am
It was $3.16 for premium in Minneapolis on Friday when I last filled up. Hope it continues to fall, and OPEC [especially Iran and Venezuela] “drowns” in their #$%^ oil.
Comment by Herschel — 10/12/2008 @ 8:42 am
Meryl,
In Memphis, I filled up my tank for $2.81 (much lower than the upper-$3 range it has been). I was driving in AR today and many of the prices were around $2.99.
Regardless of this price break, I hope we still try everything (drilling AND alternate sources of energy).
Comment by sheldan — 10/12/2008 @ 7:43 pm
Twerp,
10.25%?! And I thought WE had it bad in TN with a 9.25% tax (no state income tax aside from investment income, but this is offset by the highest sales taxes in the country).
Comment by sheldan — 10/12/2008 @ 7:45 pm
Agreed. We need to break our dependence on foreign oil.
The Saudi oil ticks need to learn what it’s like to have nothing of interest to the world at large again, the way they were pre-oil boom days.
Comment by Meryl Yourish — 10/12/2008 @ 8:00 pm
It hasn’t broken $3.00 yet up here in NoVa. Can you bring up some extra next week?
Comment by Eric J — 10/13/2008 @ 10:10 am