How Falling Gas Prices Could Help the Economy

The media only brings it up when prices are going the other way.

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I was recently driving to work and heard on the radio about gas prices in New Jersey falling to $2.99 per gallon of regular. Yes, that’s right, gas prices starting with a “2“! I was so happy to hear the story but I was quickly disappointed to realize it was just a passing comment at the end of the business report. I guess it’s hard to compete with a looming U.S. default or some other negative news that has taken priority.

Anyway, it is good news! According to AAA.com, the National Average Price for regular is $3.34 per gallon (as of 10/14/13) and it was $3.79 a year ago. I typically fill up once a week and need about 15 gallons each time. That’s a savings of about $6.75 per week, and at that rate, more than $330 a year to spend on something else!

National Average Gas Prices - AAA

Source: www.fuelgaugereport.aaa.com

Here are a few things that you could buy for about $300 or less:

The list goes on and on and hopefully everyone feels a little less ‘pinched’ with the lower gasoline prices. It should also go a long way to help airlines, delivery companies, and any part of the economy that requires some form of travel in their business. So celebrate the good times while you can!

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