The average price of gas in Orange County decreased Sunday for the 46th consecutive day, falling nine-tenths of a cent to $3.709, its lowest amount since Jan. 6.
The Orange County average price is 10.2 cents less than one week ago, 51.9 cents lower than one month ago and 7.5 cents below what it was one year ago.
The Orange County average price has fallen 68 cents over the past 46 days, including 1.6 cents on Saturday.
The falling pump prices are the result of lower crude oil prices stemming from lower demand caused by a slowdown in the global economy, according to Jeffrey Spring of the Automobile Club of Southern California.
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
-- City News Service
Anddd I was hoping for some change!!
Yes, but let's concentrate on something the POTUS has no real control over in a free market, unless of course he starts a war in the middle east. Like when oil was $30 a barrel before we invaded Iraq, doubled right after the invasion began, and today it is at $100. But you still got it all wrong. What you are supposed to say when oil prices drop like this is that LOOK, OIL PRICES DROPPING IS POINTING TO LOWERED DEMAND AND THEREFORE A GLOBAL DEPRESSION. THANKS KENYAN MUSLIN!!! Only when oil prices rise, you are supposed to compare what it was when Obama entered office, and what they are now. Wait till the weekend when holiday travel might inch up the demand, as might a renewed hope in the Euro crisis easing a little.
Wow! Lower than I thought. KENYAN MUSLIN IS CAUSING GLOBAL RECESSION "4% during Bush's rein" Right, 4% from 2001 to 2009 during Bush's rein [sic]. "Obama can take steps to lower oil prices. Not interested. " And yet, here you are, commenting in an article reporting OC oil prices going down 46 days in a row. Maybe oil prices are not controlled by the President, unless he starts a war or does something silly, eh? Like bomb Iran because Israel and Lindsey Graham would like us to?
Very hard to follow what you comment on? You seem to go in circles, unless my education was not extensive enough.
Fallacy of the excluded middle. (http://bit.ly/N4AJuB)
C'mon, Stuart Varney has been doing this for the last year. Gas prices go up, Nobama's fault for not doing enough to lower them. Gas prices go down, Nobama's fault for slowing down manufacturing indicated by lower demand. All I am doing is helping you throw up the right shill argument.
He has control over the price of oil but is not interested. As for a recovery. Dream on. Unemployment is NATIONALLY 8.1% Been like that for a couple of months. Why it is that way is because a lot of people have given up hope of getting a job and their unemployment has run out so the 8.1% is lower than it should be.
Digress. Apply. Lather. Rinse. Repeat. Clean hair is a good thing.
So we do have something in common.