Remember when we thought $2.55 for a gallon of regular was going to make for a good Christmas? Turns out the new average is $2.47, the lowest average price reported in five years.
Also: That’s a photo shot by one of my relatives back in Louisville, Ky., where some stations are pumping gas for as low as $1.96/gallon.
TTAC reader (and Pontiac G8/Holden conversion owner) David Obelcz gives us his thoughts on the current situation in the world of crude oil – and how that will affect car enthusiasts.
Over the Thanksgiving holiday in the United States, Saudi Arabia blocked a proposed production cut by OPEC, sending oil prices plummeting around the world. As I write this the price of oil and gasoline futures are in collapse. West Texas Intermediate (WTI) futures are down over 10% to $66.15 a barrel on the near-month (January 2015) contract, Brent is at $70.15, and gasoline futures are down to $1.90.
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