August 29, 2006


D.C. motorists get a 'break' as gas prices drop (Patrice Hill, August 29, 2006, THE WASHINGTON TIMES)

Gas prices are dropping quickly thanks to an early end to the summer driving season and the dearth, so far, of devastating Gulf Coast hurricanes.

The price of regular grade is falling faster in the Washington area than nationally. At $2.86 a gallon yesterday morning, it's down 10 cents in the past week and 26 cents from a peak of $3.12 a little more than a month ago, according to [...]

Energy analysts credit the early beginning of the school year and early end to vacation season that normally lasts until Labor Day, which is next weekend. Oil prices also have been declining. Yesterday, the price of premium crude plummeted $1.90 to $70.61 a barrel in New York trading after the threat to Gulf Coast oil fields and refineries from Tropical Storm Ernesto was downgraded.

Ernesto was "a whole lot of fuss about nothing, so the price is coming down," said William Adams, chief energy strategist at LaSalle Futures Group Inc.

Gasoline prices tumble (John Funk, 8/29/06, Cleveland Plain Dealer)
Hold on to your gas cap. Gasoline prices are falling faster by the day.

Crude oil and wholesale gasoline prices tumbled Monday on news that Hurricane Ernesto had been downgraded and was no longer threatening the Gulf of Mexico's oil fields.

"The price of gasoline is falling more quickly than injured Browns players out in Berea," said Ben Brockwell, senior analyst and director of data pricing for the Oil Price Information Service.

Posted by Orrin Judd at August 29, 2006 9:45 AM

As Karl Rove's weather machine once again controls the forces of the mid-Atlantic and Caribbean storm patterns and molds them to do the Republicans' evil bidding by steering hurricanes away from oil production centers.

Posted by: John at August 29, 2006 10:43 AM

It's a commodity, stupid. Its price will be back up in a few months, and then these people can will be back to blaming Cheney and Halliburton.

Posted by: Raoul Ortega at August 29, 2006 11:21 AM

"Hurricane Ernesto"

See what happens, when we don't support border control. Why not just call it Hurricane "Ernie", "Harvey", or just "Billy Bob".

Posted by: h-man at August 29, 2006 11:32 AM

Commodity prices never rise.

Posted by: oj at August 29, 2006 11:41 AM