I imagine that everyone has noticed the drop in gas prices lately. I saw prices as low as $3.47 per gallon. Who would ever think that was a low price? But after paying $4.00 plus per gallon for awhile, it DOES seem like a low price.
Part of this drop is due to the shake-out of the wilder speculation which is a normal part of any futures market, regardless of the commodity. However, a big part of this drop, I believe, is that gas consumption has declined. On the news I heard that gas consumption is down about 5 percent from where it is normally this time of year.
Here's the question I pose....how long do you think it will take people to stop thinking about purchasing economy cars and planning their driving trips more carefully if the price drops to say, oh, $3.00 a gallon (still quite high from a few years ago).
Do people EVER take a long term view on anything anymore, or is it always immediate gratification?
I have always driven an economy car. I am single, no kids, so it just made the most sense to me even when others would laugh at my choice in cars. The nice thing about that was that in the PAST you could pick up a 2 year old economy car, with well under 20,000 miles, still with an active warranty, for well under $10,000. Man, those economy car prices sure have surged upwards, at least for the used car market.
Yeah I drive a spacious economy car as well!
People make fun of it because its a box on wheels...but I'll tell you this...last weekend we went camping @ St. Hazards on Middle Bass Island and we drove from Toledo to Catawba without my fuel gauge moving itself from the full mark.
That was with it loaded up with all our camping supplies and coolers.
yeah. I drive a box, so what?
posted by stooks on Jul 30, 2008 at 06:26:46 am #