Are Gas Prices Dropping?

July 20, 2008 | San Francisco, California | Vetting explained

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Last updated: July 20, 2008

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In spite of oil's dramatic price drop last week, there is no expectation of a similar change in gas prices just yet.

However, here's at least one piece of evidence that gas prices might indeed be on the way down.

One week ago (Sunday, July 13), I took a photo at a gas station near Grapevine, CA, about halfway between San Francisco and San Diego. Regular gas was $4.99 a gallon.

Nearly one week later (Saturday, July 19) I returned to the exact same gas station. Regular gas:

$4.75/gallon.

There are a lot of complications involved in gas prices, and this is only one piece of evidence, so it's not necessarily proof of an overall drop in price. However, a nearly 25 cent drop in a single week does seem to be substantial, and at the very least, provides some relief on the road...

Posted in Assignment:
Pain at the pump

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