PLEASANT SURPRISE AT PUMP
Gas prices fall below $2 a gallon at some Fredericksburg-area gas stations
Date published: 11/11/2008
By KELLY HANNON
Remember paying $4 a gallon for gas?
The record-setting summer prices are a distant memory as Fredericksburg-area stations post prices at $1.99 or lower.
Two stations in Fredericksburg's Central Park area, Wawa and Sheetz, were charging $1.95 a gallon yesterday afternoon.
The abrupt price drop took even AAA Mid-Atlantic by surprise. The travel club thought prices might fall to $2.50 a gallon by Thanksgiving, said Martha Meade, AAA spokeswoman in Richmond.
"We are now looking at a possible nationwide average getting to $2 before the end of the year," Meade said.
The national average price was $2.24 per gallon yesterday, though Virginians are generally paying less.
In Virginia, the last time a gallon of unleaded gas averaged less than $2 a gallon was March 8, 2005. That was before Hurricane Katrina.
Following the Gulf Coast hurricane that fall, the price of gas in Virginia surged over $3, an amount that was record-setting at the time.
Gas averaged $2.10 a gallon in Virginia yesterday. The average price in Norfolk and Richmond was $1.99.
This summer, just four months ago, Virginians were paying an average of $4.01 per gallon at the all-time high on July 17.
Lower crude oil prices are largely responsible for the reduced prices, Meade said.
Crude oil was trading at $61.04 a barrel on Friday afternoon. "That's the lowest level in more than a year," Meade said.
Crude was trading at $62.41 per barrel yesterday.
Lower gas prices could have a ripple effect at the grocery store.
Wegmans, a grocery chain that is opening a Fredericksburg location next year, has announced it will lower prices for the holidays, since it anticipates lower food prices in 2009.
But as prices fall, demand for gas could grow and that could put upward pressure on pump prices.
So far, AAA has not seen a significant change. Few people are planning cross-country drives--yet.
"The economy is having an impact on what people spend overall, including their driving habits," Meade said.
Kelly Hannon: 540/374-5436
Email: khannon@freelancestar.com
Date published: 11/11/2008
Most recent reader comments:
check out the connection
(posted by
USA2007
, Nov. 12, 2008 7:12 am)
DICTATOR CHAVEZ- CITGO GAS- LIBERAL DEMOCRATS. and POOR DEAN do you REALLY think Bush controlled gas prices?? I wont waste time trying to explain it to you. Have a nice day everyone!
The week (almost the day) after Bush lifted the ban.......
(posted by
sahmom
, Nov. 12, 2008 7:04 am)
on drilling in the U.S. was when the gas prices went down. This is something Obama is going to reverse "ON DAY 1". All you people who blame Bush for the high prices, just you wait and see what happens when Obama gets in. Those guys in the middle east are going to walk all over him.
do the math
(posted by
jaeshuan
, Nov. 11, 2008 9:28 pm)
First, Bush and Cheney ( I dunno who Chaney is) didnt profit much, if any at all, from oil prices. In fact I believe the Clintons earned nearly 10x more in the same period. Second.. If Gas is $4/gal and your car gets 22 mpg then it costs you 18¢ each mile you drive. Meaning that driving 3 miles or 6 miles round trip or cost $1.08 to another gas station to save 7¢ a gallon is stupid. and if people keep wasting more money than their saving and burning unnecessary fuel, we have a vicious cycle
Bush wasn't responsible for high prices
(posted by
dmine45
, Nov. 11, 2008 3:20 pm)
The high prices for oil were because of OPEC, not because of Bush. But the oil companies loved it anyhow and took it straight to the bank. That's why we need alternative energy sources so the folks in the Middle East can't set the prices for our energy needs.
Yay! For lower gas prices
(posted by
Mojomama
, Nov. 11, 2008 10:23 am)
We might make it through this recession after all. Now if we can have lower food prices and lower prices for everything else.
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