Tuesday, November 04, 2008

Gas Prices Suddenly a Silver Lining

Lost amid the chants of "Drill Baby Drill!" and the onslaught of television advertisements promoting Props 7 & 10 is the fact that gas in California is starting to look kind of cheap!

The Los Angeles Times reports:

"In California, home to the most expensive gas in the continental U.S., the average pump price plummeted 34.7 cents in the last seven days to $2.783. The California average had not been below $3 a gallon since Oct. 8, 2007. It was the lowest state average since $2.710 on Feb. 19, 2007."

Remember back in March when we saw $5 a gallon?

Traders are pegging the plummeting prices on a lack of demand brought on by the lousy economy. Whatever it is, we'll take it...