The price of a gallon of Regular Unleaded "87 Octane" gasoline in the Central Texas region is hovering around $1.60, give or take a dime. This feels about right. Oil is falling still, so the gas makers (refineries) will be back to profitability soon. I think there is still some downside potential for gasoline prices, but $1.00 would be a pretty big surprise in the near term.
Falling demand leading to falling prices: yet another (incorrect) definition of a depression, which we are in, no matter what the Fed and Uncle Sam may say to the contrary.
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