It will never be 25 cents again...or will it? I suppose it will become obsolete and no one will want it..
By Walt and Alex Breitinger
As Americans (click here) enjoyed the Independence Day holiday last weekend, they likely noticed lower gasoline prices as they fueled up their cars and boats.
U.S. refineries have been running near full speed for months, making more gasoline than drivers are using. This led to all-time high gasoline stockpiles, nearly 10 percent higher than last year. Even if refineries slow down, some analysts expect that prices could stay lower for the foreseeable future as crude oil stockpiles are at record high levels as well.
Gasoline futures, which represent wholesale prices at the New York harbor, without taxes or other costs included, stood Friday at a four-month low of $1.36 per gallon, down 30 cents since mid-May.
Some drivers may not reap this full discount, as gasoline is not easily transported. This factor can create local aberrations in pricing, keeping costs higher in areas with tighter supplies.
