Gas Prices: Under Bush, 12/31/2008------$1.61........ Under Obama, ????????? Just How High Will Gas Prices Go?
January 2, 2008—The day after New Years saw crude oil prices at a record $100 per barrel, with regular unleaded fuel costing an average of $3.05 per gallon.
April 21, 2008—Gasoline prices jump to a record $3.50 a gallon in some parts of the U.S.
May 15, 2008— While many people were shocked at $3 a gallon, they were not prepared for what was about to happen as prices shot up to nearly $4 a gallon. Public hysteria sets in as consumers begin using Gas Buddy to find the lowest gas prices in town.
May 21, 2008—Oil price skyrockets to $130 a barrel. Holly cow!!!
June 9, 2008—Retail gas prices rise above $4 per gallon.
June 15, 2008—Speculators continue to push the price of crude oil. Consumers begin to literally run out of gas attempting to stretch their dollar.Hybrid vehicles are becoming a hot commodity. Stories of gas stations running out of gas begins to circulate, creating greater hysteria among the public.
July 7, 2008—Crude oil prices settled-in at a new record of $147 per barrel. The U.S. average price for regular gasoline climbs to an all-time high of $4.11 per gallon. Road trip style vacations are put on hold for many summer travelers.
Aug. 5, 2008—Oil prices fall below $120 a barrel. Treehuggers search for thegood within the escalating gas prices.
Sept. 15, 2008—The barrel continues to drop below $100 a barrel for the first time in six months. The idea of a serious financial industry recession is discussed as the market literally begins to melt down!
Oct. 16, 2008—Oil prices fall below $70 a barrel, which is less than half of its July peak. Signs of $1.99 a gallon gas brings celebration to the masses. Some consumers begin to talk about dragging out their gas guzzling SUV's and Winnebago's for the first time in months.
Nov. 3, 2008—U.S. Gas prices drop to $1.72 a gallon. Some gas stations even roll out a $.99 cent promotional deal. Treehuggers question whether thesudden drop is as good as most consumers seem to think it is.
Dec. 17, 2008—OPEC removes 2.2 million barrels from its daily production. Crude oil collapses to $40 a barrel, becoming the lowest price in almost 4 years.
Dec. 26, 2008—Gas prices tumble to $1.64 a gallon. Some areas seeing prices as low as $1.45 a gallon. Crude oil is just a little over $40 a barrel still.
Dec. 31, 2008—Crude oil prices plummet below $37 a barrel while the U.S. average price for a gallon of regular unleaded gasoline falls to an amazing 5-year low of $1.61.
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