US Retail Gasoline Price Trend - 2011 vs 2008 - July 2011
The severe drop in 2008 was the result of rampant speculation coupled with the near-total collapse of the U.S. economy. We may not be able to predict the bottom of the market, but we do expect prices to drop through summer, and as fuel prices continue to decline, values of fuel-efficient used vehicles will drop. While oil prices and subsequently gasoline prices will continue to fall based on increased supplies, a 15 percent decline will not send the industry into the tailspin experienced in 2008, when near 40 percent declines were seen across the board.
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