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Thursday, November 27, 2008 1:24:56 PM
COTD - The Price of Gas:
http://www.chartoftheday.com:80/20081127.htm?T
The price of gasoline continues to plunge. Over the past 19 weeks, the average US price for a gallon of unleaded has declined $2.22 per gallon. That works out to a decline of 54%. Today’s chart provides some perspective on the latest decline with a long-term view of the average US price for a gallon of unleaded gasoline. It is interesting to note that most gasoline price spikes were a result of Middle East crises and often preceded or coincided with a US recession. So while the current plunge in gasoline prices is welcome news, it did come at an extraordinarily high price.
http://www.chartoftheday.com:80/20081127.htm?T
The price of gasoline continues to plunge. Over the past 19 weeks, the average US price for a gallon of unleaded has declined $2.22 per gallon. That works out to a decline of 54%. Today’s chart provides some perspective on the latest decline with a long-term view of the average US price for a gallon of unleaded gasoline. It is interesting to note that most gasoline price spikes were a result of Middle East crises and often preceded or coincided with a US recession. So while the current plunge in gasoline prices is welcome news, it did come at an extraordinarily high price.
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