My prediction is, gas prices will keep on dropping slowly but surely right up to election time. To help give Ocommie a 2nd term!Hope I’m wrong on that one!
They did the same thing in ‘08. I started a new job in September of that year, and I remember clearly the first time I fueled up at the “new” station near where I worked. I paid $3.39/gallon. By later that fall I was paying around $1.95.
Every single election, you get people saying that gas prices are some kind of conspiracy to help the president. This come up, because gas prices always drop in the months leading up to presidential elections. Doesn't matter if it's a democrat or republican incumbant. It's just a fact of life. If you have a way of making money off the arbitrage, go for it. I wish I had the spare change for it, because it's a sucker bet. I don't know why prices always drop in the runup to national elections. Perhaps it is a conspiracy by the Powers That Be, though it doesn't make a whole lot of sense in that the PTB don't really care who wins because they own both horses in the race.
On July 2nd, I paid $2.99 for a gallon of Regular. On July 3rd it was $3.29 everywhere.
It dropped by a penny here and two cents there, but we see a 30 cent increase in a single day? And all at the exact same price? This is not the normal “driving season” bump.
This really hit home when I saw the increase:
http://www.youtube.com/watch?v=NB-HZG1Zh7s