Gas Prices Dropping Every Day, Put Into Perspective
Gas Prices Dropping Every Day, Put Into Perspective
46 Days and Counting
The national average price of a gallon of gas continued its decline over the weekend, dropping to a level of $2.927. What makes the recent decline even more stunning is the fact that there has not been a single day since September where the national average price of gasoline increased. At 46 days and counting, the current streak without a gain is the second longest in the last ten years. The longest streak without an up day was from 9/16/08 through 12/12/08, so there is a ways to go before the current streak gets anywhere near that level.
The chart below shows the national average price of a gallon of gas according to AAA since 2004. The red lines in the chart show each time there was a streak of 30 days or more without a gain. As can clearly be seen in the chart, even though the current streak without an up day is the second longest of the last ten years, gas prices tend to be very 'streaky'. Since 2004, there have now been eleven streaks of 30 or more days where the average price of gasoline didn't rise, and the current streak is the second this year.
Gasoline Price Chart with 30 Day Streaks Highlighted
Courtesy of Bespoke Invest