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The Miracle of $2 Gas Prices
[Investor's Business Daily] Economics: What seemed like an impossibility just a few years ago is now a reality for many across the country: gasoline that costs less than $2 a gallon. It's amazing for many reasons.USA Today reports that almost one in five gas stations in the country are charging less than $2 a gallon. As many as eight states could soon have an average price of under $2, the paper said, citing data from GasBuddy. The national average for gasoline last week was under $2.40, according to the Department of Energy. In the Midwest and the Gulf Coast, it's barely above $2. $2 A GALLON IN CONTEXT Let's put that in some context. First, there was a time not too long ago when President Obama insisted that $2-a-gallon gas was a thing of the past. "We can't just drill our way to lower gas prices," was his constant refrain. Earlier this year, Democrats made hay when gas prices neared $3 a gallon. Senate Minority leader Chuck Schumer blamed "President Trump's reckless decision to pull out of the Iran deal." He said it caused "soaring gas prices, something we know disproportionately hurts middle- and lower-income people." Posted by: Besoeker 2018-12-22 |
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