Across the country, the average price for a gallon of gas has fallen for 76 straight days, the second-longest streak on record dating back to 2005.
If you have gone to the pump recently, perhaps you have noticed the sticker price of gas dropping each day.
“Sixty percent of that price is based off what crude oil is going for,” said Skyler McKinley of AAA Colorado. “We have seen crude oil plummet significantly in the past several months and that has been tied to the decrease in gas prices.” “Fundamentally, there are jitters about a global recession that has made investments in crude not that wise,” said McKinley. “Of course, we use a lot less oil if we are entering into a recession, and the markets are reacting in kind. Consumption has fallen. Americans have changed their driving behaviors. AAA surveys show up to 65% of drivers have changed their behaviors, not just because of the high price of gas, but because of the high price of just about everything.
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