Gas prices keep falling

November 19, 2008 4:14:58 PM PST
Economic news has been almost all bad over the last number of months, with one exception.Gas prices are plunging.

On July 17th, the national average for regular unleaded was $4.11 a gallon, the highest ever.

Wednesday, the average nationwide is $2.05 per gallon, less than half the summer peak.

In some areas, it's even lower. At a gas station in Collingswood, New Jersey, Action News found a gallon of regular for $1.72.

What we didn't find: People complaining!

"I think it's great! When we were up to $3.50, almost $4.00 a gallon, it was really starting to tax the pocketbook," said Steve Phillips of Collingswood, New Jersey.

Vince Criscuolo agrees. He drives nearly 250-miles a day in his company vehicle.

"I know our corporate office is constantly reminding us about gas prices, find the cheapest places you can find, you know. So that's one burden off me now," Criscuolo said.

Right now the average price per gallon of regular unleaded is $2.18 in Pennsylvania, $1.97 in New Jersey and $1.95 in Delaware.

AAA says the price of gas is down, because the price of crude oil is down. Plus, people are driving less, so demand for gas is down.

Gas station owner Balkar Saini says, he'd be fine if the price dropped even more.

"I'm expecting it to come down a little more, around $1.50, that neighborhood. I'd love to see that price," Saini said.

Drivers would love it, too.

"It makes it a lot easier, now I don't have to worry and I can spend my money on Christmas and everything else," said Wanda Semple of Pennsville, New Jersey.


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