{"id":34626,"date":"2018-11-03T12:14:52","date_gmt":"2018-11-03T16:14:52","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=34626"},"modified":"2018-11-03T12:14:52","modified_gmt":"2018-11-03T16:14:52","slug":"some-good-news-for-commuters","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=34626","title":{"rendered":"Some Good News For Commuters"},"content":{"rendered":"

USA Today<\/a> posted an article yesterday about gasoline prices. I just got back from California where the price of a gallon of gas was about $4. It’s really good to be back in North Carolina!<\/p>\n

The article reports:<\/p>\n

Gas prices are expected to plunge sharply in the final days leading up to the midterm elections, potentially nearing $2 a gallon at some stations in low-tax states.<\/strong><\/p>\n

The sudden respite at the pump comes from sharply lower oil prices and declining wholesale gasoline prices.<\/strong><\/p>\n

Oil Price Information Service analyst Tom Kloza said it could amount to a “colossal collapse” in prices for consumers: from a $2.78 national average on Friday to as low as $2.50 by Tuesday.<\/strong><\/p>\n

“There\u2019s the possibility you could see some prices flirt with $2 a gallon in the next 10 days or so in some of the low-tax areas,” Kloza said. “For now it’s going to be a great break.”<\/strong><\/p>\n

The break comes after gas approached four-year highs in October<\/a>, topping a national average of $2.90 a\u00a0gallon at one point.<\/strong><\/p>\n

Prices have already fallen by 6 cents per gallon over the last week, according to AAA. But they remain 27 cents higher than a year ago.<\/strong><\/p>\n

The increase in gasoline prices was one of the factors in the housing bubble collapse in 2008. In four years, the price of a gallon of gasoline had gone from an average of $1.85 a gallon to an average of $3.25 a gallon. If you commute thirty miles to work, that could mean as much as $3.00 a day added to the cost of your commute plus the cost of any recreational driving. To some people working with a tight budget, the increase was the difference between being able to pay the mortgage and not being able to pay the mortgage.<\/p>\n

The article continues:<\/p>\n

U.S. oil prices have fallen about $13 per barrel from their October high, trading at around $63 on Friday morning.<\/strong><\/p>\n

One key reason: Rising oil production throughout the world is causing stockpiles to build up.<\/strong><\/p>\n

The Organization of the Petroleum Exporting Countries’ output has reached a two-year high, with leading OPEC member Saudi Arabia’s output\u00a0“near its all-time high,” Jefferies analyst Jason Gammel said in a research note. American oil output has also spiked.<\/strong><\/p>\n

“This surge has driven the market into oversupply,” pushing prices lower, Gammel said.<\/strong><\/p>\n

A decrease in gasoline prices is good news for all consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

USA Today posted an article yesterday about gasoline prices. I just got back from California where the price of a gallon of gas was about $4. It’s really good to be back in North Carolina! The article reports: Gas prices … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8315,1886,689,11151,3832],"class_list":["post-34626","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-gasoline-prices","tag-oil-prices","tag-opec","tag-organization-of-the-petroleum-exporting-countries","tag-usa-today"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/34626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34626"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/34626\/revisions"}],"predecessor-version":[{"id":34627,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/34626\/revisions\/34627"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}