I recently saw a headline on the front page of Yahoo News that asked, “Could $1 Gas Be a Reality?” If it is, it could be great news for Chevrolet NJ dealerships and Chevy dealers all across the country.
Earlier this year, bloggers were going crazy talking about the soaring gas prices. I’ll admit…I was one of them. But you don’t see too many news stories these days about the gas prices going down, do you? Your Chevy dealerships want to report the good news as well as the bad, so we’re going to look at the lowering fuel prices and what it means for you and your Chevrolet cars.
The main reason for the drop in gas prices is the price of a barrel of oil. In July, this price hit an all-time high at $147.27 for a barrel. This brought gas prices up to an average of $4.11 per gallon. In the last five months though, the price of a barrel of oil has gone down more than 70 percent! Combine that with lower demand for gas and other factors and it’s very possible that prices could go back to the 1999 prices of about a buck for a gallon of gas.
I’m always for lower prices. But even if gas prices don’t go back down to a dollar a gallon, I wouldn’t complain about where the prices are at right now. Where I live, I’m paying about $1.70 for a gallon and I would expect prices to be a little higher than they were in 1999. But I certainly won’t complain if they drop even more.
