Gas prices down, but...

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GasPumpHandle.jpgGas prices have dropped almost 30 cents across the nation in the past month, according to the AAA Fuel Guage Report. In California the drop has been even more dramatic - 37 cents.

But don't get too comfortable. Seems like the slightest hint of a threat can send them back up, and indeed Tropical Storm Gustav off the Gulf of Mexico has already raised some concern, according to the Austin Business Journal. The price of crude oil has risen for the past four days, reaching $118 a barrel this morning.

"Forecasters say Gustav could potentially be the worst storm to hit the mainland United States since 2005 when hurricanes Katrina and Rita devastated the Gulf Coast region," the story says. "Those storms ground offshore energy activity to a virtual halt, leaving a great deal of production 'shut in' for months."

The storm could force many oil rigs to shut down production. Some companies have already begun evacuating employees.

"In addition to oil prices, the forced shut down of offshore operations will affect the natural gas industry as well," the story continues. "About 15 percent of the natural gas produced in the United States comes from the Gulf."

Gasoline prices always rise quicker than they fall so fill up soon!

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About The Bargain Hunter


Daily News staff writer Julia Scott loves to find bargains on everything from groceries to Gucci. Her tips will help keep your hard earned cash where it belongs - in your pocket.
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This page contains a single entry by Julia Scott published on August 28, 2008 12:23 PM.

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