The AAA's Fuel Gauge Report shows an average gallon of self-serve regular gasoline costs $3.95, down slightly from a week earlier. This comes about a week after the price of crude oil began declining.
It has been a long climb to a price plateau.
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| 12-Month Average/AAA Fuel Gauge Report |
That green line is the national average price for gas. It goes up from about $2.70 at the end of last summer to almost $4.00 May 1st.
It's amazing how so much of our economy is tied directly to the price of this one commodity. Gas prices skyrocket, leading us consumers to use less gas, which has the affect of driving gas prices down.
And there seems to be a correlation between gas prices and the types of cars we buy. Sales of all vehicles have been increasing as the recession ended. Sales of SUV's and light trucks led the way until gas prices topped $3.00 early this year. Since then, smaller and more efficient cars have been leading in sales.
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| Wall Street Journal |
Do energy prices have to be noticeably high for us Americans to think about conserving energy?
Links:
fuelgaugereport.aaa.com
Car Sales Data from The Wall Street Journal
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