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Could Gas Go as Low as $2.00 Per Gallon?

By JLP | August 31, 2006

That’s what this USA Today article is saying. It’s funny how $2.00 per gallon sounds CHEAP! What would $2.00 per gallon mean to your budget. You can find out by using my VERY SIMPLE gas cost calculator.

Topics: Budgeting, Cars | 7 Comments »

7 Responses to “Could Gas Go as Low as $2.00 Per Gallon?”

  1. Hazzard Says:
    August 31st, 2006 at 1:00 pm

    I’m so cynical about gas prices these days. Maybe I better not go on……

    Okay, well I will say that $2.00 gas would be fine with me, although I’m sure that would just mean I’d have a better chance of being run over by a Hummer.

  2. sam Says:
    August 31st, 2006 at 2:43 pm

    After the gas crises of the 70’s, people cut back consumption so much that prices steadied or dropped throughout the 80’s and into the 90’s. It could happen again if folks switch to more efficient autos or take the bus, or whatever.

  3. Says:
    August 31st, 2006 at 3:34 pm

    Actually, the price drops that went on through the 90s were much more due to increased oil exploration (and hence greater supplies) than reduced consumption.

    Personally, I don’t think that expensive gas is a necessarily bad thing. At least it causes people to think twice before pissing away non-renewable resources.

  4. Says:
    August 31st, 2006 at 7:13 pm

    Sorry, I should expand on that comment about exploration vs. conservation… The increased oil exploration was spurred on by the 1970s oil crisis. This opened up the North Atlantic bonanza, etc. I hardly think that you can make the case that oil consumption throughout the 80s and 90s was lower than in earlier decades, even if efficiency went up (until the mega-SUV boom, that is).

  5. Mortgage Calculators Says:
    September 2nd, 2006 at 1:16 am

    Oil companies are earning now, but they are actually killing themselves. Some will find alternatives or solutions. Life will find a way.

  6. mbhunter Says:
    September 3rd, 2006 at 11:25 pm

    I’ve already weighed in on this one on my blog — $2 gas is gone forever. It’s $2.44 now but it still would have a loooong way to go.

  7. sam Says:
    September 4th, 2006 at 11:58 am

    Okay, Nickel. There was increased production as well as conservation. I should know that as I lived in Wyoming and Oklahoma growing up, and remember the drilling booms.