Falling Gasoline Prices Provide Relief to American Drivers

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By Trey Thoelcke Published
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Gasoline prices have fallen again, based on the two most important measures, and the drop continues to accelerate. The famous Lundberg Survey reported a drop of 7.26 cents in the past two weeks to $3.4728. The cut off date for the data was November 16. The most carefully watched daily report from AAA Fuel Gauge showed a one-day drop to $3.416 from $3.418. The price for a gallon of regular a month ago was $3.692. Except for Hawaii, not a single state still has regular above $4.

The price drop may still figure in the consumer’s year-end activity. The fiscal cliff may cause consumer holiday spending caution. But for Americans who drive a great deal, the drop in gas prices could save several hundreds of dollars a year. And a price increase is unlikely for now. Trouble with Iran has moved off the front pages. More and more analysts believe that the shale boom in the United States and Canada could make America energy independent in a decade. And demand for oil has slackened because of economic slowdowns in China, Japan and Europe.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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