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The Price of Gas Falls to An Average of $3.15 Per Gallon

By Erik Folgate

You have probably noticed that gas has dropped severely over the past couple of weeks. Now, according to George Jahn from the AP, the average price of a gallon of gas in the United States has dropped to $3.15. This is almost a dollar lower from the national average for gasoline in July.

Why did it drop so much?

The free market took over and corrected the overly inflated $4.00 a gallon price. It didn’t take the government to interject themselves into the gas price crises for the problem to be corrected. Basically, consumers felt the price got too high, so we responded by driving less and becoming more conscious about wasting gas. The result is lower gas prices. The price of oil has fallen to $78 dollars a barrel, and we will probably see $2.90 to $3.00 a gallon by the winter, which is right back where we were before the gas price hike mess started.

Why Isn’t this on the front page of the newspaper?

Good Morning America and all of the other morning shows had a lead story every day about the price of gas rising back in July and August. Now when it’s falling down like a rock, they bury it in their headline ticker on the bottom of the screen. Wouldn’t you think that the media would want to report such good news like the price of gas dropping almost a $1.00 in 6 weeks? No, because good news doesn’t sell for them. And why is that? I have a theory that the media merely a reflection of society. I don’t believe that the media shapes society, but rather society shapes the media. The media is just giving us what we want, which is bad news. We need to start embracing good news, and we need to start talking about good news around the water cooler. Maybe the media will respond to that if they see it happening. But for now, we’ll continue to be fed doom and gloom, because that’s what gets us talking an issue.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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  • JEM

    I bought gas yesterday at costco for 2.98!!! I spent only 40 bucks to fill my tank. The highest I have paid to fill it was 55 bucks.

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