[Masthead] Partly Cloudy ~ 52°F  
High: 68°F ~ Low: 56°F
Friday, Apr. 29, 2016

Gas price watch: Relief at last

Thursday, August 7, 2008

Thursday, Aug. 7
Gas prices in Marshall have plunged sharply in the past week, returning to levels not seen since early May. At $3.45 per gallon at several stations early Thursday, Aug. 7, Marshall's prices remain well below the national average $3.84 reported by CNN. The national average is down more than 25 cents from its July 16 peak.

Gas prices peaked in Marshall about the same time as the national peak, hitting nearly $3.90 before settling back a few cents.

The retreat of gas prices has been linked to reduced consumer demand. But as CNN's article notes, "gas prices remain high in historical terms. Thursday's national average price is more than $1 higher than it was a year ago."

Monday, July 14
Wednesday, April 16
On the Net:


Tuesday, May 8

Note: The nature of the Internet makes it impractical for our staff to review every comment. If you feel that a comment is offensive, please Login or Create an account first, and then you will be able to flag a comment as objectionable. Please also note that those who post comments on marshallnews.com may do so using a screen name, which may or may not reflect a website user's actual name. Readers should be careful not to assign comments to real people who may have names similar to screen names. Refrain from obscenity in your comments, and to keep discussions civil, don't say anything in a way your grandmother would be ashamed to read.

The oil companies say it a free market thing, supply and demand. Today there of four time the vehicles on the road than there were thirty years ago. The big 5 oil companies haven't built any additional refineries in that thirty years and the ones they have are only running in 86% capacity range. One sure way to increase demand is to artificially inflate it by not producing enough.

-- Posted by John Q. on Sun, Aug 17, 2008, at 10:31 PM

One reason for the variation in gas pricing is taxes assessed per gallon. But I also heard a story on NPR last week, though, that assigned another portion of the blame to areas that tack on additional requirements for specific types of gas blends.

For example, gas is a lot cheaper in Tucson, Arizona, than in Phoenix, because pollution in Phoenix, much higher than in Tucson, has led the city of Phoenix to demand a specific type of gas that is more expensive to produce.

Any way you slice it, though, gas pricing is pretty strange. As a person who can easily recall gas at 25 cents a gallon, paying today's prices just about kills me. Lucky for me, my driving needs are few, so I don't have to buy much of it at any price, high or low, and my car gets at least decent mileage.

-- Posted by Kathy Fairchild on Thu, Aug 7, 2008, at 6:37 PM

I have family that lives in the Springfield area and I can't seem to figure out why the prices down there were at $3.36 a gallon LAST week and continue to fall, while it's still almost a dime more three hours north.

-- Posted by Oldblackcat on Thu, Aug 7, 2008, at 4:59 PM

$3.46 - - a relief????? B.S.

-- Posted by Maynard G Krebbs on Thu, Aug 7, 2008, at 3:17 PM

Reduced consumer demand my foot..

Its an election year and McCain will be lucky to carry 15-states...

Gas prices will be under 3-dollars by Halloween..Too late GOP.. nobody with an ounce of sense is buying it..

-- Posted by Hombre on Thu, Aug 7, 2008, at 2:45 PM

Respond to this story

Posting a comment requires free registration: