Yeeesssss...(fist pump)

The price of a gallon of regular gasoline just hit 1.999 at our neighborhood independent station. This means, I'm sure, that somewhere in this part of New Jersey, I can get the Subaru's tank filled for somewhere around $1.90/gallon if I wanted to search for it. On the other hand, I shouldn't have to fill it until Saturday, by when the price could be down under $1.90/gallon at most of the local stations. I just checked one of my old car diaries (you know...a calendar where you keep track of what you spend on your car and when you spent it), and it tells me that we haven't seen prices this low since before 2004. Oh wait...we haven't seen prices this low since just before Bush took office. I wonder if anybody else thinks that this is just a little suspicious, hmmm?

Addendum (12/12/08): The price of a gallon of regular gas is down under $1.60/gallon. While I am chortling a little, I am also beginning to get a little worried about the signals the market is sending us. At this price, all those people who had parked their Hummers and Tahoes and other huge SUVs will be tempted to start driving them with abandon again. Also, all those investors who were thinking about investing in green energy systems are now probably rethinking their plans. At best, they are most likely putting them on hold until oil prices stabilize for a couple months. I know that's what I'd be doing.

I think that now would be a good time for the government to establish a floor price for gasoline. Let's call it $3.00/gallon for regular. If the price goes below that level, the US Treasury will get some added funds which Congress could use to support new energy technologies and mass transportation systems. If the price stays above $3.00/gallon, then there will be ample incentive for innovators to exploit that price in a competitive manner. Finally, we will all be encouraged by the cost to drive a little less, and that, too, is a good thing. As far as I can see, it is win-win-win with the only losers being the oil cartel and oil speculators. And that is an even better thing...