Monday, November 24, 2008

Gas Update: $317.4 Billion Annual Savings

National Average: $1.89 (lowest price since February 2005)

National Low: $1.35 in Kansas City

Estimated Annual Savings: $317.4 billion, based on the drop in gas prices from the peak of $4.12 per gallon in July to the current $1.89 ($1.4235 billion annual savings for American consumers and businesses per penny decrease in gas prices, see calculations here).

7 Comments:

At 11/24/2008 4:37 PM, Blogger Walt G. said...

Don't we have to introduce a time element to determine savings? When gas prices have stayed low for as long as they were high, then we can count savings from that point in time.

Call me a party pooper if you want, but this seems to me somewhat like a a store that raised the price of a $20 item to $40 and then put it on sale for $20. Can this really be called a cost savings?

 
At 11/24/2008 5:48 PM, Anonymous Anonymous said...

US exports are falling off a cliff frat boy. We aren't saving squat.

 
At 11/24/2008 7:46 PM, Anonymous Ralph Short said...

If you focus on one thing only you will reach a conclusion that is often wrong. The fact is falling fuel prices affect a myriad of human endeavor. The fact they have fallen to prices below the level when the increases occurred is a savings. That cannot be disputed.

US exports falling is more related to the global economy being close to a recession.

Anonymous, what would you propose to increase our exports? Do you have any proposals in mind that would make our goods attractive to other countries who are contracting economically. More generally, do you have any proposals at all?

 
At 11/24/2008 10:42 PM, Anonymous James said...

While crude prices continue to drop on wall street, so does demand for the product... we will see who blinks first in this "Mexican Standoff". Meanwhile, my favorite quote on gasoline is "if it gets any more expensive, rappers will start drinking it"

 
At 11/25/2008 5:06 PM, Anonymous Anonymous said...

"Don't we have to introduce a time element to determine savings?"

He did. Annual = one year. If prices stay where they are for one year, the annual savings (as compared to the high) is $317.4B.

 
At 11/26/2008 6:46 AM, Blogger OBloodyHell said...

> Anonymous, what would you propose to increase our exports?

Anonymouse is an idiot studying to be a moron, and failing abysmally.

He spouts the same crap over and over again, and never does anything but toss off his little stinkbombs and then runs away. If he ever does reply to an answer, it's just to toss off another stinkbomb.

Argument? Justification of claim? Wut dat?

Don't feed the troll.

 
At 11/26/2008 6:48 AM, Blogger OBloodyHell said...

Note that there are two different anonymous's postings here. Why the intelligent one continues to post as anonymous and risk being confused with the troll is a mystery.

 

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