Gas Now Below $3: Ready to Buy a Hummer Yet?

By David Thomas  on October 20, 2008

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As the national average price for a gallon of gasoline hit $2.92 today — and it’s expected to keep falling — we’re left wondering if the price decrease will have any impact on drivers. Demand has continued to drop, down 9.7% in the federal government’s latest reporting from early October, despite lower prices.

The down economy seems to be the No. 1 reason why drivers are cutting back today; it was this summer’s high gas prices that started a downward trend in demand. 

Whatever the reason, there has been no sign from consumers that they’re shifting back to large SUVs and trucks. It seems that $4 gas, even if temporary, made its mark on car shoppers.

Gas prices reverse course, fall below $3 (USA Today)

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Managing Editor David Thomas has a thing for wagons and owns a 2010 Subaru Outback and a 2005 Volkswagen Passat wagon.  Email David