Maybe Not $3 Gas
Robert Murray http://www.geograph.org.uk/photo/1449653Four months ago, it was inconceivable that gasoline prices could dip to near $3 a gallon. Most experts expected high oil prices to guarantee a price of $4 for a gallon of regular on the basis of a…
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Four months ago, it was inconceivable that gasoline prices could dip to near $3 a gallon. Most experts expected high oil prices to guarantee a price of $4 for a gallon of regular on the basis of a national average. Yesterday, the AAA Fuel Gauge put the cost of a gallon of regular at $3.411, down from $3.653 a month ago.
For some states the figures are much better. In South Carolina, the price is the lowest in the country — $2.998. And prices have fallen below $3.25 in seven states. With the price of WTI below $80 a barrel, and not likely to rise far, gas prices should continue to drop. The number of miles driven this summer is not expected to increase much this year, so the national average for regular could be down to $3.25 by Labor Day.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
