One Thousand Days of the $3.00 Gallon - KATV - Breaking News, Weather and Razorback Sports

One Thousand Days of the $3.00 Gallon

Posted: Updated:

AAA's daily price tracking service has reported that Tuesday, September 17th will be the 1,000 consecutive day of gas remaining at or spilling over $3.00 per gallon. CEO of AAA, Bob Darbelnet, was quoted saying, "Paying less than $3.00 per gallon for gasoline may be automotive history for most Americans, like using 8-track tapes or going to a drive-in movie." The reality of gas prices remaining over $3.00 per gallon is most likely here to stay. Further reports state that while there were 1,000 consecutive days of gas not falling below the $3.00 mark they have also not averaged above $4.00 per gallon.

A quote by AAA given in an online article stated, "The most expensive daily national average during the current streak was $3.98 per gallon on May 5, 2011, while the lowest daily average was $3.01 per gallon on December 23, 2010." The article also remarked that the reasoning behind the inflation in gas prices, and their following plateau, started from Hurricane Katrina's impact on the Gulf Coast in 2005 which heavily destroyed oil rigs. In October of 2008 to December of 2010, AAA calculated 796 days where the average price of gas per gallon fell below $3.00 due to a weaker economy that did not require as much gasoline and oil.

  • Top Videos

Most Popular

Stories
Videos
loading...