Monday, November 3, 2008

Economic slowdown equals drop in gasoline demand equals gas prices less than $2 per gallon

As the old cliché goes, for every dark cloud there is a silver lining. Though our economy's growth is slowing, an unquestioned benefit of this situation is that people are staying close to home. Because of this, demand for gas is dropping and prices are going down.

Back in the summer when prices hovered around $4 per gallon, I thought it would be a long time before we would see prices back down to $3 per gallon. However, prices have zoomed below that, and last weekend, prices here in Manchester dropped below $2 per gallon for the first time in a long while.

So, for all you folks from Nashville and Murfreesboro that may be driving down to Chattanooga, make sure to stop here and fill up your tank. Your wallet and our local elected officials would greatly appreciate it.

2 comments:

Joltin' Django said...

I don't like to drop names nor nothing, but I have a bud who works at the SunTrust commodities desk ... and he says gasoline will be sub-$2.00 by the end of the year ... you heard it hear first.

Joltin' Django said...

"you heard it hear first." = "... you heard it here first."