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National average takes biggest weekly drop in over a year

GasBuddy Blog -- The national average yesterday took its biggest weekly decline in over a year, according to GasBuddy data. The decrease of 10.1c/gal was the largest week-on-week decrease since late May 2011, when prices decreased 10.4c/gal in one week. Last week's drop was also one of the largest since the 2008 recession saw prices drop week after week nearly 30c/gal.

It's sure to come at a time that many motorists are highly skeptical of the reasons surrounding the decrease. Many I've talked to believe the drop solely has to do with politics, or that a certain politician is lowering prices. But since we believe in educating our users and debunking myths, we earlier said the reasons for the drop had little to do with politics and more to do with...

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Submitted Oct 22, 2012 By: PD

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honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Oct 26, 2012 5:42:05 AM Ignore honda0105 Report Abuse nice that the average is dropping. Not much drop here.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:750,755 Joined:Mar 2011	Message Posted: Oct 25, 2012 3:31:48 PM Ignore clpassenubye Report Abuse Its dropping after it was increased for various reasons so 10c isn't that much of a drop when you put it all into perspective.
garywa01 Sophomore Author Alberta Posts:130 Points:377,565 Joined:Jan 2012	Message Posted: Oct 25, 2012 9:54:23 AM Ignore garywa01 Report Abuse Election strategy?
garywa01 Sophomore Author Alberta Posts:130 Points:377,565 Joined:Jan 2012	Message Posted: Oct 25, 2012 9:54:21 AM Ignore garywa01 Report Abuse Election strategy?
Lobsters11 Rookie Author Sacramento Posts:29 Points:16,075 Joined:Oct 2012	Message Posted: Oct 23, 2012 10:47:10 PM Ignore Lobsters11 Report Abuse Thank God!!
Donatelo Champion Author Dayton Posts:1,118 Points:291,825 Joined:Apr 2011	Message Posted: Oct 23, 2012 8:58:38 PM Ignore Donatelo Report Abuse cool
CapriceWagon All-Star Author Washington Posts:929 Points:475,970 Joined:Feb 2008	Message Posted: Oct 23, 2012 4:31:17 PM Ignore CapriceWagon Report Abuse Finally, it was supposed to drop 6 or 7 weeks ago
SkooterG Champion Author Phoenix Posts:1,359 Points:327,835 Joined:May 2012	Message Posted: Oct 23, 2012 3:31:15 PM Ignore SkooterG Report Abuse Waiting for the drop in Phoenix area......
doctorindyj Champion Author Santa Fe Posts:3,438 Points:836,785 Joined:Nov 2009	Message Posted: Oct 23, 2012 10:42:25 AM Ignore doctorindyj Report Abuse Wait for that spike.
otherdave Champion Author Indiana Posts:3,378 Points:1,266,235 Joined:Oct 2008	Message Posted: Oct 23, 2012 10:05:06 AM Ignore otherdave Report Abuse Link is not broken.
PTBpricer Champion Author Virginia Posts:1,461 Points:202,520 Joined:Jun 2012	Message Posted: Oct 23, 2012 8:03:19 AM Ignore PTBpricer Report Abuse More good news. To bad the link to the Full Article is broke.
tomok Champion Author Portland Posts:32,931 Points:2,342,585 Joined:Aug 2006	Message Posted: Oct 23, 2012 6:50:20 AM Ignore tomok Report Abuse National average takes biggest weekly drop in over a year and fuel prices need to keep going down and down to a much more reasonable level in less than a year. The price at the pump needs to go down to $2/gallon, $3, $3.50/gallon or $4.00 this is Not the New Low! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! XII/XXII/MMXII!
bicycle1966 All-Star Author Akron Posts:605 Points:400,340 Joined:Jul 2011	Message Posted: Oct 23, 2012 6:45:22 AM Ignore bicycle1966 Report Abuse wish diesel were doing the same
mberg Champion Author Houston Posts:3,792 Points:956,705 Joined:Aug 2010	Message Posted: Oct 23, 2012 6:17:42 AM Ignore mberg Report Abuse The good old days are returning.
bikerWI Champion Author Milwaukee Posts:1,403 Points:874,560 Joined:Apr 2010	Message Posted: Oct 23, 2012 6:10:59 AM Ignore bikerWI Report Abuse It's probably the switch to winter gas and less demand.
bikechuck Champion Author Indianapolis Posts:6,996 Points:2,060,195 Joined:Apr 2006	Message Posted: Oct 23, 2012 6:05:25 AM Ignore bikechuck Report Abuse It is a breath of fresh air but how long will it last? and how low will it go?
fordfan1 Champion Author Indiana Posts:9,077 Points:1,888,090 Joined:Jul 2007	Message Posted: Oct 23, 2012 6:04:46 AM Ignore fordfan1 Report Abuse It must be election time again!!!!!
slgas Champion Author Houston Posts:6,015 Points:1,558,865 Joined:Oct 2008	Message Posted: Oct 23, 2012 6:03:11 AM Ignore slgas Report Abuse It is more like a free-fall in my part of Houston. $2.99 at 2 stations down the street.
danny999 Champion Author Florida Posts:8,708 Points:1,636,135 Joined:Oct 2008	Message Posted: Oct 23, 2012 6:02:19 AM Ignore danny999 Report Abuse COMEX DOWN another nickel to 2.65.Pump prices.WHY is pump price 92/96 cent higher at pump..Someone is making an extra 30 cents/gallon.Bradenton Fl.
Lengas Champion Author Gary Posts:13,535 Points:2,714,850 Joined:Nov 2004	Message Posted: Oct 23, 2012 5:59:48 AM Ignore Lengas Report Abuse Big Oil MANIPILATION playing with a bouncing ball!!!!!!!!!!!!!!!!!!!!
hmcsretired07 Champion Author North Carolina Posts:3,031 Points:411,600 Joined:Mar 2011	Message Posted: Oct 23, 2012 5:59:47 AM Ignore hmcsretired07 Report Abuse When climbing Mt Everest, you still have somes down hils. Unitl we are independent and OBama and Chu are history, gas will continue to climb until we level out with europe.
smokinjoe54 Champion Author Ohio Posts:4,703 Points:909,585 Joined:Feb 2010	Message Posted: Oct 23, 2012 5:58:41 AM Ignore smokinjoe54 Report Abuse Keep dropping.
Ferdman17 Champion Author Albany Posts:1,273 Points:371,610 Joined:Feb 2012	Message Posted: Oct 23, 2012 5:58:20 AM Ignore Ferdman17 Report Abuse Yea
JimL1 Champion Author Phoenix Posts:8,206 Points:1,239,570 Joined:Jul 2003	Message Posted: Oct 23, 2012 5:58:11 AM Ignore JimL1 Report Abuse Idiots that "believe the drop solely has to do with politics, or that a certain politician is lowering prices," Deserve what they get, that is the guy who wanted the U.S. Automakers to go through bankruptcy. When a company that I used to work for went through bankruptcy, all employees lost their last two weeks of salary--AND THEIR JOBS!..Now tell me that your candidate cares about the middle income guy, the common man. Please read on................ ............ "But since we believe in educating our users and debunking myths, we earlier said the reasons for the drop had little to do with politics and more to do with seasonal declines in the price of gasoline."
Boo1989 Champion Author Atlanta Posts:7,158 Points:1,346,605 Joined:Oct 2008	Message Posted: Oct 23, 2012 5:55:43 AM Ignore Boo1989 Report Abuse "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." steven chu, obama's energy secretary.
ILVET Champion Author Illinois Posts:14,779 Points:2,922,690 Joined:Jan 2005	Message Posted: Oct 23, 2012 5:55:29 AM Ignore ILVET Report Abuse Just going thru the cycle
hawkman1950 Champion Author Michigan Posts:2,609 Points:537,630 Joined:Aug 2010	Message Posted: Oct 23, 2012 5:55:28 AM Ignore hawkman1950 Report Abuse Keep moving south.
Petrock Champion Author Lexington Posts:9,108 Points:2,554,835 Joined:Apr 2005	Message Posted: Oct 23, 2012 5:55:07 AM Ignore Petrock Report Abuse Dropping prices are good! Not so sure about that Nothing to do with Politics statement though. Sure is odd that this is happening 2 weeks before the elections?
padlocks2 Champion Author Virginia Posts:3,062 Points:621,880 Joined:Aug 2006	Message Posted: Oct 23, 2012 5:54:17 AM Ignore padlocks2 Report Abuse Yup, right after it jumped the mose in over a year and its still higher than it was before the jump
lindact Champion Author New Haven Posts:8,721 Points:1,714,045 Joined:May 2008	Message Posted: Oct 23, 2012 5:53:59 AM Ignore lindact Report Abuse Still way too high...
Hunter114 Champion Author Chicago Posts:9,056 Points:1,446,810 Joined:Apr 2009	Message Posted: Oct 23, 2012 5:52:13 AM Ignore Hunter114 Report Abuse OK.
pkhdonovan Champion Author Maine Posts:11,991 Points:2,701,905 Joined:Sep 2005	Message Posted: Oct 23, 2012 5:52:02 AM Ignore pkhdonovan Report Abuse some stations around here are finally starting to drop their prices.
bababooey2 Champion Author Hartford Posts:6,337 Points:1,299,915 Joined:Sep 2009	Message Posted: Oct 23, 2012 5:51:35 AM Ignore bababooey2 Report Abuse whatever
Yankee829 Champion Author Dallas Posts:2,191 Points:555,815 Joined:Sep 2010	Message Posted: Oct 23, 2012 5:47:43 AM Ignore Yankee829 Report Abuse Ok
Brucevanf Champion Author New Brunswick Posts:1,341 Points:241,360 Joined:Aug 2012	Message Posted: Oct 23, 2012 5:47:40 AM Ignore Brucevanf Report Abuse ok
kirzon484 Champion Author Atlanta Posts:1,851 Points:430,260 Joined:Jun 2011	Message Posted: Oct 23, 2012 5:47:25 AM Ignore kirzon484 Report Abuse k
racerdj Champion Author Indianapolis Posts:9,800 Points:2,053,650 Joined:Jun 2003	Message Posted: Oct 23, 2012 5:47:03 AM Ignore racerdj Report Abuse Just in time for the election!
tc316 Champion Author Twin Cities Posts:10,766 Points:1,723,630 Joined:Apr 2007	Message Posted: Oct 23, 2012 5:46:11 AM Ignore tc316 Report Abuse Keep dropping
teamsimons Champion Author South Carolina Posts:2,458 Points:499,095 Joined:Aug 2011	Message Posted: Oct 23, 2012 5:45:53 AM Ignore teamsimons Report Abuse Yes, we're seeing a bit of a decrease in gas prices here, but it still isn't as low as earlier in the year.
no_monkey2002 Champion Author Tallahassee Posts:8,405 Points:2,068,250 Joined:Mar 2006	Message Posted: Oct 23, 2012 5:45:35 AM Ignore no_monkey2002 Report Abuse it is way toooooooooooooo high...get it down around my knees..
wingryder92 Champion Author British Columbia Posts:5,627 Points:556,055 Joined:Apr 2011	Message Posted: Oct 23, 2012 5:45:14 AM Ignore wingryder92 Report Abuse We dropped a lot, ver a week ago but have been steady since.
LeeFree Champion Author Pittsburgh Posts:9,136 Points:2,240,525 Joined:Jun 2005	Message Posted: Oct 23, 2012 5:41:09 AM Ignore LeeFree Report Abuse Dropping only pennies here. Still near $3.80/gal.
mystic92 Champion Author New Jersey Posts:1,165 Points:314,245 Joined:May 2012	Message Posted: Oct 23, 2012 5:40:43 AM Ignore mystic92 Report Abuse lets keep dropping
neptune2008 Champion Author Michigan Posts:8,558 Points:1,666,800 Joined:Aug 2008	Message Posted: Oct 23, 2012 5:35:39 AM Ignore neptune2008 Report Abuse almost real....ALMOST
fillerupyeoww Champion Author Columbus Posts:5,864 Points:1,646,515 Joined:Mar 2008	Message Posted: Oct 23, 2012 5:35:29 AM Ignore fillerupyeoww Report Abuse Yeah well, pump prices up .20 overnight around here.
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Oct 23, 2012 5:32:31 AM Ignore 4bobux Report Abuse keep going
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Oct 23, 2012 5:32:16 AM Ignore SUPERSTEVIEO Report Abuse it needs to continue for quite some time yet... but will it???
epf Champion Author Grand Rapids Posts:6,319 Points:1,888,430 Joined:May 2004	Message Posted: Oct 23, 2012 5:31:49 AM Ignore epf Report Abuse Low $3.40s here
rjd1608 Champion Author Toledo Posts:5,346 Points:1,927,080 Joined:Aug 2003	Message Posted: Oct 23, 2012 5:31:14 AM Ignore rjd1608 Report Abuse it would be nice if it would stay low, but it won't
Foxt Champion Author Minnesota Posts:5,245 Points:2,017,405 Joined:Jul 2006	Message Posted: Oct 23, 2012 5:31:10 AM Ignore Foxt Report Abuse Biggest drop means nothing when it starts that high.