Posts Tagged ‘oil price’

47 Cents a Gallon?

Petro-slump leads to price war in Northern Michigan town.

by on Jan.19, 2016

A price war in a Northern Michigan town eventually saw gas briefly dip to 47 cents a gallon. Photo courtesy WXYZ-TV.

If you think $2 a gallon gas is a bargain, imagine what the reaction was when a pair of service stations in Northern Michigan got into an old-fashioned price war this week.

The Beacon & Bridge Market, in the town of Houghton Lake, was first to fire a shot, dropping the price of regular unleaded to just 78 cents a gallon. A neighboring station quickly responded and, for a brief while, motorists were able to fill up for as little as 47 cents a gallon, according to a report from a TV station in the nearby town of Clio.

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According to, the two stations are now back up a bit, just slightly over $1.50 a gallon. Michigan, as a whole, is now averaging just under $1.70, according to tracking site, and the U.S., as a whole is down to $1.873 as of the afternoon of January 19th.


US Gas Prices Take Big Dive Last Month

Drop comes despite unrest in Middle East.

by on Jul.29, 2014

Not that drivers of the Jetta Hybrid were getting gas often, but now they're paying even less as prices at the pump have dropped.

Despite the tension in the Middle East, gasoline prices have dropped more than 16 cents per gallon in the past month, according to records compiled by AAA.

Gasoline prices vary by region but overall the average price for regular gasoline dropped more than 9 cents per gallon in the two weeks ended July 25 to $3.5795 a gallon, according to Lundberg Survey Inc., which surveys about 1,200 gasoline stations around the country.

Fueling Up on News for Less!

A recent U.S. Energy Information Association report indicated the average price of crude oil dropped by $1.04 per barrel and estimated average price of regular gasoline fell by 6 cents per gallon across the United States in the past week and is now 10.7 cents per gallon cheaper from a year ago before the turmoil began.


Demand for Gasoline Falling as Prices Rise

But does that signal a new recession?

by on May.05, 2011

Americans appear to be cutting back fuel consumption as prices approach record levels.

With fuel prices nearing the politically significant $4 a gallon level, industry watchers report that gasoline consumption has begun to slow.

The question is whether motorists are simply reining in their time behind the wheel through careful route planning – or whether the decline signals the start of a new recession, as fuel consumption is often linked to spending in other areas of the economy.

Gas consumption has dropped by more than 1.2%, year-over-year, during the last four weeks, according to data tracked by MasterCard SpendingPulse.

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The nation is using 13% less gasoline – about 1.2 million barrels a day – than it did in 2007, when consumption peaked.

Analysts say much of that was due to the recession, the jobless no longer needing to commute, but studies have shown that U.S. drivers are also taking steps to reduce driving by such things as route planning before running errands.