Thursday, November 13, 2008

Gas prices: $2.09!

Gas was down to $2.09 at the Irving on North State Street. I don't think we've seen these kinds of prices since before Katrina. Amazing. And what is so interesting about all of this is the fact that the dive in the price of gas is due to conservation and a glut of oil. In other words, there is a flip side to supply and demand - if you stop demanding, there will be supply.
While the larger effects of the economic collapse are not yet known and we are nowhere near the breadlines and horrific times of the past, we are all learning very valuable lessons about what is important and why. I'm just hoping that we will all be able to make it through relatively unscathed.


Anonymous said...

As I pulled into the Irving station by the high school I watched the attendent changed the gas price from $1.99 to $1.94, dropping a nickel in a matter of seconds. This was on Nov. 16. How low will it go?

Tony said...

Who knows ... but it is good while it is lasting. :-)