One of the good things about the weakening economy, at least for us Americans, is that it’s helped to strengthen the Dollar, as compared to other currencies. That, mixed with less demand for gasoline has created the biggest drop ever.
The national average price for self-serve, regular unleaded gas fell 35.03 cents to $3.3079 a gallon on Oct. 10 from $3.6582 two weeks earlier, according to the nationwide Lundberg Survey.
I’ve seen this my area, as I saw local prices as low as $3.25 a gallon—if you paid cash.
Markets have a way of correcting themselves. People react to high prices by buying less, the price goes down. To some extent, this is also what I expect in the banking industry. Things will recover, unless we mess it up.