The going rate for regular gas has dropped from $3.49 to $3.45 at most stations in Ocean City.
Tuesday evening, three stations in North Ocean City and three in West Ocean City were selling regular for $3.45. A couple of stations in midtown were showing prices of $3.47 and $3.49.
Here’s the gasoline price trend locally over the past few weeks: $
3.59, $3.49, $3.47, $3.45. I understand the national average is about $3.64.
The gasoline price trend is good news for travelers this summer, and good news the hospitality and tourism industries in Ocean City, and everywhere. The trend raises the obvious questions: How low can it go? and: How long before it goes back up?
To keep things in perspective, $3.45 is not a low price, historically speaking. It’s not so long ago that gas was selling for $2 and change in North America. I’m old enough to remember the gasoline price wars of the 1950s and 1960s, when gas was sold at 27 cents to 29 cents at brand name stations. And that came with attendants pumping the gas and a free windshield wash. The driver didn’t need to get out of the car. “Check your oil?”
It seems hard to believe, but I think I can remember buying gas for my 1950 Chevy as low as 19 cents at the Brand X stations, in the 1960s.
But forget the history. Whether or not we’ve already reached “peak oil,” we’re looking at declining worldwide oil supply and rising demand. A worldwide shortage or a price spike is only one political or military crisis away. People in nations like China and India are eager to switch from bicycles and motor scooters to sedans. Auto sales in developing countries are going up by the thousands, By the millions!
Many in America hold out hope for “energy independence,” but the experts keep reminding us that no matter how you cut it, the oil marketplace is worldwide, not local.
Enjoy the relatively low gas prices for however long they may last. This is a good summer to, in the words of Dinah Shore, “See the USA!”
– John Hayden
- Gasoline Prices Trend Downward Just In Time For Memorial Day (washington.cbslocal.com)
- WA Gov. Gregoire wants state to look into gas prices (king5.com)
- Gas prices down 18 cents since April, survey finds (cnn.com)
- Gas prices fall by nickel this week across Texas (click2houston.com)