Gas Prices Down to $2.19

by Mike on 11/22/2005

in Cold Hard Cash

On my way in to work I saw the local discount gas retailer hawking gas for only $2.19 – prices I last saw almost a year ago. By comparison, picking up a six-pack of a decent beer will cost you about five bucks. That’s $8.88 per gallon. (128 fluid ounces per gallon, 72 fluid ounces per six-pack).

Gas prices just ten weeks ago were about 80 cents per gallon higher. Now that consumer hoarding and panic buying have largely subsided, prices have receded to pre-summer levels even as winter, with its higher demand for energy to heat the great indoors, approaches. It looks like the market works after all.

(Anyone know the relative profit margins of breweries vs. oil companies?)

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