Cheapest I saw on the road yesterday was $2.09 (in Waco), but the cheapest in the state is $1.86 (in Laredo).
Expect gas prices to keep dropping pretty hard for the short term, as the price of a barrel of oil is really taking a nosedive. OPEC cut production quotas sharply this last week, but that had zero effect - we could see sub-$50 oil before it rebounds.
Sure, gas prices will head on up and surpass their all-time highs again...eventually. But as long as everyone is so down in the dumps on the economy, it's not going to happen any time soon.
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momijizukamori
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Date: 2008-10-26 09:24 pm (UTC)Expect gas prices to keep dropping pretty hard for the short term, as the price of a barrel of oil is really taking a nosedive. OPEC cut production quotas sharply this last week, but that had zero effect - we could see sub-$50 oil before it rebounds.
Sure, gas prices will head on up and surpass their all-time highs again...eventually. But as long as everyone is so down in the dumps on the economy, it's not going to happen any time soon.