Sharp drop in price of oil feeds decline at the pump; analysts say even cheaper gas on the way

  • Article by: JONATHAN FAHEY , Associated Press
  • Updated: April 22, 2013 - 7:31 PM
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  • Comments

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freedomallApr. 22, 13 2:05 PM

Gasoline prices should be 8 bucks a gallon. Amazing that we are living in 2013 (ironically on Earth Day) and the EPA has yet to introduce at least a 30MPG fuel efficiency standard.

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cavellApr. 22, 13 2:07 PM

Airline rep says don't expect to see ticket prices drop because gas is CHEAPER now! Yes, they are saving money now but gas has to be cheap a LONG time before we pass any savings on to customers.

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slackergalApr. 22, 13 2:08 PM

Bush's Fault!

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theagonybhoApr. 22, 13 2:11 PM

Cheap gas exactly what Obama didnt want, the double edged sword is the reason the price is dropping is the economy worldwide is in the tank.

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savagemanApr. 22, 13 2:14 PM

Gosh, more oil means lower prices. So IF America were to produce more oil the price would go down? I can't believe economics work like that.

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ungabangavApr. 22, 13 2:30 PM

The price has to drop $0.47 just to recoup the Gas tax you pay at the pump in Minnesota.

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mouthwashApr. 22, 13 2:44 PM

Still, there isn't all that much interesting worth driving to these days. Especially in a bleak, physically ugly cold-desert terrain like MN, the car is mainly a way to get to & from school/work/etc.

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woodpecApr. 22, 13 2:49 PM

"Gosh, more oil means lower prices. So IF America were to produce more oil the price would go down? I can't believe economics work like that." ...It is that easy, isn't it. Minor issue: It actually costs money to produce oil; if prices are too low, there is less incentive to produce. BTW: That gas tax should be eliminated---after all, it costs nothing to build roads and bridges, so why pay a gas tax?

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citypersonApr. 22, 13 2:50 PM

Just another thing for the Conservatives to blame Obama for. Oh, wait...

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cmo55Apr. 22, 13 3:01 PM

North American residents will be blessed with a generation of readily available and inexpensive gasoline and other hydrocarbon energy. This is great news as it will propel our economies growth beyond energy poor countries and continents. It will also allow us to abandon current foreign and military policy in the Middle East. Also, our producers have a better environmental record producing these energy sources than other regions of the world. Clean Low cost energy is excellent news for our country.

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