by Bill McBride on 12/21/2008 07:20:00 PM
Sunday, December 21, 2008
From Bloomberg: U.S. Retail Gasoline Falls to $1.66 a Gallon, Lundberg Says
The average price of regular gasoline at U.S. filling stations fell to $1.66 a gallon as the nation’s recession sapped demand.Click on graph for larger image in new window.
Gasoline slipped 9 cents, or 5.1 percent, in the two weeks ended Dec. 19, according to oil analyst Trilby Lundberg’s survey of 7,000 filling stations nationwide.
This graph shows the nominal weekly U.S. gasoline prices since 1993 (source: EIA)
Gasoline prices are close to the 2000 through 2003 price range, when the median prices was just over $1.50 per gallon.
Posted by Bill McBride on 12/21/2008 07:20:00 PM