By JLP | October 4, 2011
Oil prices appear to be the lowest they have been over the last year:
I just wish gas prices would drop just as quickly. If my memory serves, when the price of oil surged earlier this year to $114 per barrel, gas prices surged to around $3.60 per gallon (around where I live anyway). Now oil prices are down to around $76 per barrel (a 33% drop). If gas prices decreased the same amount, we would be paying $2.40 per gallon instead of the $3.20 we are currently paying (an 11% drop).