Thursday, October 30, 2008

$230 Billion Annual Savings From Falling Gas Prices

Update: The $1.62 per gallon fall in gas prices since the $4.12 peak in July to the current $2.50 (see chart above from this link), represents an annual savings for consumers of about $230 billion (compared to a scenario if gas prices stayed about $4). On a previous CD post, I showed that for each one penny decrease in gas prices, consumers save $1.42 billion annually.

5 Comments:

At 10/31/2008 4:15 AM, Blogger OBloodyHell said...

Damn, that's a third of the bank bailout. Maybe this thing isn't half as bad as it's sold as being.... snicker.


Yeah, yeah, I know, unquestionable recession and all, it's going to cost a lot more than the bank bailout... but it's a definite bright spot.

 
At 10/31/2008 4:23 AM, Anonymous bruce stram said...

Why aren't we having an investigation into those evil speculators who are reducing these gas prices?

 
At 10/31/2008 6:06 AM, Anonymous nobrainer said...

I still maintain that your use of the peak price to calculate savings is ridiculous. Absolutely ridiculous.

Although, at least this time, unlike the last time you posted, the gas price is actually lower than it was one year earlier.

 
At 10/31/2008 9:03 AM, Anonymous Anonymous said...

Was it ridiculous to bitch about high gas prices when it was over $4.00 a gallon?

 
At 10/31/2008 9:22 AM, Anonymous qt said...

Happy halloween!

 

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