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Good news: Fuel prices decline

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This just in from the folks at AAA: Fuel prices are down in Lawrence and elsewhere in the state.And that, of course, is a good thing.Motorists are paying an average of $3.51 for a gallon of regular unleaded gasoline Tuesday in Lawrence, down 14 cents from a month ago, according to AAA's Fuel Gauge Report.Tuesday's average of $3.51 in Topeka is down from $3.61 a month ago, and Wichita's average Tuesday - $3.41 - is down from $3.50 at this time in August.The Kansas numbers compare well with today's nationwide average of $3.65 a gallon, down from $3.80 a month ago, according to AAA. The national diesel price also is down - to $4.22, from $4.52.Two factors have contributed to the overall decline, said Betty Oliva, of AAA in Kansas:¢ Hurricane Ike was expected to largely miss oil-production facilities in the Gulf of Mexico, where 80 percent of the gulf's oil production has been shut down for the second time in three weeks.¢ OPEC's president signaled that the cartel would not be cutting production.Such news affected oil trading Tuesday, as light, sweet crude closed Tuesday at $103.26 a barrel - the first time the commodity had closed below $104 since early April.That's all good news for purchasers of gasoline, Oliva said."The price should continue to drop - at least for the next few days," she said.

Comments

SMe 6 years, 3 months ago

Unless something totally unforseen happens they'll stay down until the election. Then watch out.

tangential_reasoners_anonymous 6 years, 3 months ago

"Good news: Fuel prices decline"Well... it seemed to start out "Good," but then it went downhill....I think "decline" is the key concept here.

nobody1793 6 years, 3 months ago

Awesommmmme! I'm gonna go out and buy two hummers and tow one behind the other! And I'm gonna get me some window stickers with Calvin peeing on a solar panel! Vroooooommm!!!!

Sigmund 6 years, 3 months ago

"Crude oil fell to a five-month low in New York and Brent oil in London dropped below $100 a barrel as the Saudi Arabian and Venezuelan oil ministers signaled that OPEC will maintain production levels when it meets today in Vienna. The market is ``well-balanced'' Saudi Oil Minister Ali al- Naimi said today. Rafael Ramirez, Venezuela's energy and oil minister, said the group should leave production unchanged."http://www.bloomberg.com/apps/news?pid=20601087&sid=aE2xCjzFk5Xs&refer=worldwideOf course this is just a ploy by Big Oil and the republicans to get McCain/Palin elected. Either that or OPEC realizes that oil prices that are too high are not in their best interests and the fact that July's gasoline purchases US had the largest month to month decline in 28 years.

Godot 6 years, 3 months ago

Nancy Pelosi said that allowing offshore drilling would reduce the cost of gasoline by only 2 cents in the next ten years. You go, girl.

beatrice 6 years, 3 months ago

Imagine how low the prices would be if the dollar wasn't deflated against other world currencies, a direct result of our national debt virtually doubling under Bush's watch.McCain supports Bush's economic policies, and admits it isn't his strong point. Do you think it is Palin's?No Way, No How, No McCain!

lubyloo 6 years, 3 months ago

Who cares about gas prices? I want to hear more news about Sarah Palin!

budwhysir 6 years, 3 months ago

Good news? How can this be good news? Have they already drained the American people to a point that we are not buying as much fuel Yes they have so what do they do, lower the price so we think oh its cheaper I will buy more.It amazes me how many things change during election. Gas prices are out of control all my tv stations are covering what religion the new vice president might be. Isnt there a seperation of state and government? Why would I care what religion someone is. However, if we report on gas prices every day and dig up dirt on the oil companies, this would cause major problems for them

tangential_reasoners_anonymous 6 years, 3 months ago

Same thing... overinflated... declining... Alaskan promise, unrealized....

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