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Business, Energy

Falling Prices At Your Local Gasoline Retailer

Price-at-pump_10202014Stopping to get some gas this morning at my local Costco, I had to pull out the camera phone. Why? The price at the pump for today is shown in the photo on the left – $2.799 for regular gasoline (87 octane). For just a nanosecond I thought I was in a Wal-Mart commercial and it was raining smiling yellow buttons with the number, 87, on them!

Gasoline at less than $3.00 per gallon has not been seen by most U.S. motorist in a few years. My last post on this topic, U.S. Gas Prices Continue Downward Trend, noted that prices at the pump were expected to go lower thru the end of the calendar year. I also predicted that if prices went lower, we’d all be doing happy dances for Thanksgiving.

Good news! You can do your happy dance now!

Because I’m happy – Clap along if you feel like a room without a roof – Because I’m happy – Clap along if you feel like happiness is the truth – Because I’m happy – Clap along if you know what happiness is to you – Because I’m happy – Clap along if you feel like that’s what you wanna do…{Hook for Happy by Pharrell Williams}

Here are the numbers from GasBuddy.com for today:

Phoenix, AZ        USA Average

Today                        $3.004               $3.088

Yesterday                    3.014                  3.093

One Week Ago           3.105                   3.179

One Month Ago         3.275                   3.348

One Year Ago             3.197                   3.357

Source: GasBuddy.com, October 20, 2014, price per gallon

Keep in mind that Costco members usually pay less for gasoline than at most other retail outlets. However, if prices are lower at Costco, more than likely they are also lower at other retailers.

Some economists have expressed concern about a deflationary environment that could arise due to falling prices for commodities such as crude oil and its products – gasoline, diesel fuel, heating oil, and jet fuel.

However, retail consumers like me welcome cheaper fuel cost because it frees up money that can be spent in other areas of the economy. That said, this year’s holiday sales could hit a record high.

So….get your happy dance on!

First time landing here? If this is your first time reading a post on this blog, A Bridge for Business & STEM, thanks for stopping by! If you liked what you read, will you follow me here? I write frequently on topics related to business and science, technology, engineering, and math (STEM), and attempt to show the relevancy and relationships between these two topics as often as I can.

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About Vi Brown

Vi is principal and CEO of Prophecy Consulting Group, LLC, an Arizona firm that provides business and engineering services to private and public clients. Prior to establishing her consulting practice in 2001, Vi worked with Motorola, Maricopa County Government, Pacific Gas & Electric, CH2M Hill, and Procter & Gamble. As an adjunct faculty member, Vi teaches undergraduate calculus classes and graduate level environmental courses. She is also a professional speaker.

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  1. Pingback: Lower Gas Prices Deliver Tidings of Great Joy | BridgeBizSTEM - December 23, 2014

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