"The wave of $2-a-gallon gasoline that has been sweeping across the country finally hit Northwest Indiana.Mohammed Shad, whose family has owned the Speed Mart at Indiana 130 and Indiana 149 west of Valparaiso for five years, said he lowered the price for regular grade gas at the convenience store outlet to $1.99 at 6 p.m. Tuesday night after seeing the market continue to slide downward from $60 a barrel this week."
There are actually two gas stations, the one above and the Family Express station at 130 and Tower Road, in a gas price war driving prices about 15 cents lower than surrounding areas. Next we get to the most worrisome part:
Evelyn Murchek of Portage said she was driving by when she spotted the sign and turned in for a fill-up that was 14 cents a gallon cheaper than her last one.
"At first I thought it was the price for E-85. It probably has something to do with Obama," she said.
What? Are you serious? That's absolute hogwash. If anything the price drop on a gallon of gas is 80% the economic recession, and 20% the implicit threat from the Republican Congress that they will push again this year for more oil drilling domestically. Remember the #dontgo movement during the summer? Speaker Pelosi sent Congress home without voting on oil drilling, so the Republicans stayed in the dark with no microphones or media coverage and kept debating the issue to demand that Congress return.
Barack Obama may have a lot to do with positive feelings for some, but he has absolutely nothing to do with gasoline dropping under $2.00 ... If anything his environmental policies and ideas will push oil right back up to over $100 soon. And by the way, gas prices have been under $2.00 in lots of states for weeks ... Indiana especially NW Indiana is late to drop because of foolish EPA rules that make us make special gasoline for our area, which costs more.
3 comments:
Hey, Obama's win MIGHT have something to do with the gas price drop. A lot of the reason that oil and gas are going down is a fear that the economy is tanking. An Obama victory certainly has businesses worried and actually cutting back their plans for the future. So the lack of optimism in the business community is exacerbating the recession fears and therefore the price of oil and gas.
That's a pipe dream joel, gas prices have been going down all over the country prior to the actual election. This fall they started in September and have continued to drop. The campaign had nothing to do with it. The economy had LOTS to do with it and the consumer's were not filling up their tanks. I didn't fill up all the way, just enough to get me to where I needed to be budget wise, not because I felt any allegence to Obama or McCain. Stop drinking the coolaide on that one!!!
Joel has a point but I don't think he is right. Obama probably is less business friendly than McCain, so the markets could be pricing this in. Even if they are, it is still a stretch to equate the two.
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