August 12th, 2008
04:37 PM ET

Have falling gas prices improved your outlook?


FROM CNN's Jack Cafferty:

If you feel like you have some change left after filling up at the pump these days, it's not your imagination: Gas prices have now fallen for 26 days in a row.

AAA puts the national average at just below $3.80 a gallon. Gas prices have dropped more than 7% since hitting a record high of $4.12 last month. However prices are still a dollar more than they were a year ago. The almost month-long drop in gas prices has come as oil has also fallen from a record high of $147 a barrel.

This is good news for the average consumer. A new Gallup poll suggests that Americans have become more optimistic about gas prices as they continue to drop.

Last month, almost 90% of those surveyed said gas prices would be even higher by the end of the year. But now that percentage has dropped by more than half to 40% - an especially large change in opinion for just a month's time. Also, only 16% of Americans think gas prices will increase by "a lot" by the end of the year, compared to 52% who felt that way last month.

Gallup has also found that Americans' views about the economy haven't been quite as gloomy lately. 73% of Americans rate the current conditions as "fair" or "poor”. That's still a lot of people, but it's down from 83% who felt that way last month.

Here’s my question to you: Have 26 days in a row of falling gas prices improved your outlook?

Interested to know which ones made it on air?

Jenna from Roseville, California writes:
No. The falling gas prices are due to Americans reducing their demand because they can not afford the high prices. When Americans start to feel comfortable again and start to consume more, the prices will spike again.

Rob in Jacksonville, Florida
Now people can save some money when they have to drive to the unemployment office for their checks!

Norman from Maryland writes:
Why should it? We went back to sleep after the gas crisis in 1974. Sheer stupidity. Are we dumb enough to do it again?

Chris from Flemington, New Jersey writes:
No, the rising gas prices actually improved my outlook, because they would finally force our country to do the right thing and develop real alternatives. I'm looking forward to November 5th, when prices start going up again. $5 a gallon is music to my ears.

Hank from Orange, California writes:
Jack, Unlike all the cynics who have written in, I'd like to say yes, my outlook has improved somewhat. If gas prices continue to fall as they have for the past three weeks, I can get back to driving my H2 again...guilt free!

Derick from Greenlawn, New York writes:
Yeah, gas prices fell, but it's only because China took about a billion cars off the Beijing roads for the Olympics. Give it a week.

Fred writes:
Yeah, it thrills me to death to pay $3.85 per gallon versus $4.25.

Linda from Pennsylvania writes:
It's wonderful! What will I do with all that extra cash? Maybe I'll splurge and go buy a gallon of milk.

Filed under: Oil Prices • US Economy
soundoff (185 Responses)
  1. Katherine L Fujii

    Are you kidding. This just takes the spotlight off of the fact that we need to do something about our dependence on oil. Make some meaningful changes.

    August 12, 2008 at 2:09 pm |
  2. mitchell ,arkansaw

    no.they are still twice as high as when bush took office.and he has done little to promote alternative energy.i'm sure this administration will retire comfortably,on their oil stocks,and record profits.

    August 12, 2008 at 2:09 pm |
  3. Mark - Asheville, NC

    Well, here in Asheville pump prices are coming down about a penny a day, today it's $3.76 at the mega station near me. But oil prices are decreasing far faster proportionally, so what is keeping pump prices higher than they should be? It's still a very controlled market, obviously, and until I see pump prices really fall, I will remain guarded in my own outlook.

    August 12, 2008 at 2:10 pm |
  4. Katherine L Fujii

    Why? Will it help us immediately? What of our environment?

    August 12, 2008 at 2:10 pm |
  5. Jayne

    No. While it might be slightly less expensive to drive to the grocery store, it doesn't change the fact many food products have gone up as much as 50%. I still can't afford health insurance, so even if I can afford to drive to the doctor I'm out of luck. Winter's coming and heating oil is now considered a luxury item. No – my outlook has not improved.

    August 12, 2008 at 2:11 pm |
  6. Jackie in Dallas

    No, because I realize it is a combination of falling demand, and the oil companies wanting to get their toadies elected. We have shown the oil companies that we are aware that their obscene profits have not escaped our notice and that we are behind the development of alternate sources of energy, not only because it is enviromentally more sound, but that we are tired of feeding the corporate sharks.

    August 12, 2008 at 2:12 pm |
  7. Donna Colorado Springs,Co

    It has made me feel a little better about things, but the overall economy still sucks in many areas! I paid $3.87 a gallon for mid grade this morning in Colorado Springs, and I was very happy about that, but the price of food is getting ridiculous here and everywhere else. When those prices start to fall, then I will be more hopeful.

    August 12, 2008 at 2:12 pm |
  8. Andrea Denver CO

    Not until the fall to what they were before Bush came into office

    August 12, 2008 at 2:13 pm |
  9. Kelly, Philadelphia

    When the price of food begins to plummet in a similar fashion then I can do the howdy dowdy dance. But until then, "bah humbug!"

    August 12, 2008 at 2:13 pm |
  10. Diana Ewing NJ

    I don't know if it improved my outlook but our gas bill that I just paid was 200$ cheaper... does this have anything to do with Obama going overseas and pronouncing people and places correctly???

    August 12, 2008 at 2:14 pm |
  11. cy gardner

    Absolutely not. I am old enough to remember the halcyon days before Bush smeared and lied his way to re-election and Cheney gave the go ahead to jack up prices. Gas was a buck and a half less than four years ago. We need to replace fossil fuels because of global warming, trade imbalances and other bad things that follow from our oil addiction. The few coins I save in the difference between four dollar gas and three dollar and 84 cent gas will not change that. The GOP doesn't want to change anything. They and their dark overlords at Exxon love things just the way they are. My outlook will change when our "leadership" does. cy gardner arlington va

    August 12, 2008 at 2:14 pm |
  12. Carol c.

    Maybe a little at the pump, 36 cents in Knoxville. But this has not reached the grocery store and other places that have raised their prices and I suspect it won't go down.

    In reality, Jack, had we listened to Carter in the 70's and maintained our conservation, we would not be in this mess right now. Americans just don't know when to save, we prove that by instant gratification with the credit card. Hopefully this trend will continue downward and some people can breathe a little easier but learn from their mistakes of not conserving.

    Knoxville, TN

    August 12, 2008 at 2:14 pm |
  13. Stacy from Beautiful Loudoun County Virginia

    Jack, my outlook was improved 26 days ago when I purchased my electric scooter to travel to and from work. Anyone that expects gas to go back down is only fooling themselves and gas will increase again when a gnat lands on the oil pipeline, causing international panic.

    August 12, 2008 at 2:17 pm |
  14. Richard McKinney, Texas

    No. Not at all. Jack this is just the clam before the storm. Energy is power. Those that have it have the power. Those that do not become paying loyal customers. Energy is the economy. Right now the most widely used source of energy comes from oil. They have us over a barrel and some more then others.

    August 12, 2008 at 2:17 pm |
  15. K. in FL

    Economically, I'd say my outlook is somewhat better. On the other hand, I am concerned that lower gas prices may cause people to return to their old habits of energy consumption and ignore the need for alternatives.

    August 12, 2008 at 2:17 pm |
  16. Jack Colson

    Gas prices have not fallen in proportion with the barrel price as price is still close to $4.00 gallon & more exacting @ $3.85 at this time – and higher elsewhere.....come on Jack it's time now for the speculators to stand back and hide while Congress threatens to "do something" (that's not likely to happen however). It is also an appropriate time to make some people look good for it is an election year.
    We could predict this, however I thought would start in Sept – but then Conventions are "very" soon.
    Jack Colson
    Chicago, Il

    August 12, 2008 at 2:18 pm |
  17. Michael Cassidy, Cleveland, Ohio

    My outlook hasn't changed considerably since the gas stations are still moving at a snails pace to bring down the fuel prices. Furthermore, my outlook will only improve when Bush leaves office, assuming of course McCain isn't elected either.

    August 12, 2008 at 2:18 pm |
  18. dennis north carolina

    oil and the stock market are not the only problems with the economy or our pocketbooks. we need a change in our leaders in both government and business. the people need to take charge of their lives and their country instead of leaving it up to mindless people who only care for themselves.

    August 12, 2008 at 2:19 pm |
  19. Tripp, Dallas, TX

    It's a sham, Jack! The price of gas was not the only problem. Food costs have risen, other energy costs have risen, and the WORST part is that Americans are losing their jobs on a weekly basis.

    What good is it to have lower gas prices if you STILL don't have the income to pay for it? Without a job, gas could cost $0.03 a gallon, and it wouldn't matter.

    August 12, 2008 at 2:20 pm |
  20. Kerry Diehl

    Not really, ….

    I think we all feel more like a drowning person that has managed to come up for one more gulp of air, but are wondering how long before we go under for good.

    August 12, 2008 at 2:20 pm |
  21. Dave, Brooklyn, NY

    Anyone who thinks this is a good sign is just kidding themselves. Take a look at the calendar. On it you will see that we have a big election coming up – that’s the only reason prices have inched down a few cents after jumping up a few dollars. We need to pretend that prices are $10/gallon. That way we can get a head start on new battery and electric technology.

    August 12, 2008 at 2:20 pm |
  22. David Alexandria, VA

    Temporarily. But if you think that the oil market, which has tested $150/bbl won't go back there, you're crazy. If we let Congress, which has done nothing about this for thirty years, think that they now don;t have to do anything about energy, we're crazy.

    Too many administrations slip too easily into the legislative constipation of which they have become grown so apparently comfortable, We cannot let our "improved outlook" be mistaken for complacency with the status-quo.

    August 12, 2008 at 2:20 pm |
  23. Paula from Georgia

    No, the Market is making some adjustments again. The investors both here and abroad are not Investing in oil stocks. They have pulled back. when all said and done, Hard times are coming. Even on our Employee Board, they are letting us know. Financial matters(BUDGET);Changes are coming.

    August 12, 2008 at 2:21 pm |
  24. Vanessa

    The gas prices are down to help McCain. They will rise again when the election is over. It is no coincidence that the oil baron president and vice president are in office during the highest gas prices ever.

    August 12, 2008 at 2:22 pm |
  25. Duane in Missouri

    Consumption was down at $4.11 per gallon, dramatically. The people that produce the crude oil need us to consume it. They are just playing with the price to mollify the American consumers. We shouldn't be fooled again.

    August 12, 2008 at 2:22 pm |
  26. Elizabeth from Tennessee

    no. The damage has been done.

    August 12, 2008 at 2:23 pm |
  27. Marc, Toronto

    If gasoline stations would quit with the collusion on setting prices it might. When gas was on the way up it didn't take long for prices to go up but on the way down it's not keeping pace.

    Someone is making a killing right now at our expense.

    August 12, 2008 at 2:25 pm |
  28. Carmen P


    No the gas prices are being manipulated to effect an election
    The republicans are in trouble and thet have to do something with their wealthy CEO's to get elected

    After the election watch what happens
    I am very cynical

    we are being manipulated and some if not most of us do not know it

    August 12, 2008 at 2:26 pm |
  29. Dennis in Albuquerque

    Gas prices may have dropped 26 days in a row, but they are still over a dollar more than they were last year. So, no, my outlook is still not too bright.

    August 12, 2008 at 2:26 pm |
  30. Ryan - Champaign, IL

    Oil has plummeted; gas has barely dropped at all. The fix is still in, and won't go away until we get the crooks out of office.

    August 12, 2008 at 2:27 pm |
  31. Matt in Las Vegas, NV

    No way. Gas prices just added insult to injury. My healthcare premiums go up 17-24% every year while the coverage gets worse. Energy prices at home have gone thru the roof over the past 10 years. Food costs have gone up, Prescription drug costs are going up at a high rate. You name it, it costs more than ever. Besides, gas prices havn't gone down that much...it's still 3.80 a gallon....that's only 25 cents less than the peak. That doesn't mean Jack.....Jack.

    August 12, 2008 at 2:27 pm |
  32. circy in New Mexico

    Yeah, about as much as one less pothole on a dirt road.

    August 12, 2008 at 2:29 pm |
  33. Lucas, Pawling NY

    Not at all Jack.
    They need to fall quite a bit more to really make a difference. The slight downward trend helps car salesmen push bigger cars on consumers – that's all.

    August 12, 2008 at 2:29 pm |
  34. Wendy, San Rafael

    No. The only thing that has improved my outlook is the prospect of new leadership in this country in the near future with a vision for a Marshall-type plan for energy. JFK said that we would put a man on the moon in ten years and he did it.

    We can become energy independent in ten years if the political leadership and will is there for this to occur. The people are hungry for some signs at the top that the American people can be trusted to do what is needed to accomplish this. We're a little tired of being told to go shopping and everything will be okay.

    August 12, 2008 at 2:29 pm |
  35. Esther Malka cuyahoga falls ohio

    damage is already done who cares if it goes down now
    we had to sell our car cause we couldn't afford the gas now its better we walk or don't go and i bet you walmart misses my money more than i miss shopping at walmart

    August 12, 2008 at 2:29 pm |
  36. R. in Florida

    Jack, financially I'd say I'm better off. However, I'm a bit concerned that a decrease in oil prices may cause people to return to their old habits of energy consumption, pay less attention to mileage standards and become apathetic towards the development of alternatives.

    August 12, 2008 at 2:30 pm |
  37. Jenny Rome Ga

    Not at all Jack. Issac Newton sucessfully proved that what goes up up eventually comes down. Beside gas is still $3.60 a gallon.

    August 12, 2008 at 2:32 pm |
  38. George

    At this rate it will only take 104 year to get it back to where it needs to be. I have adopted a new approach to the gas prices, and that is to walk to do anything that I need to do, so instead of buying $20.00 worth of gasoline every month, I now buy none. As you can see that the oil companies were not getting rich off of me anyways, but now they are making nothing, oh, and by the way gas prices dropping for 26 days is no biggie, it went up a hell of a lot faster than that. That is the rate that it should fall at.

    August 12, 2008 at 2:33 pm |
  39. Deb (Bow, NH)

    Momentarily only – when I pull up to the pump. Who would have thought I would be grateful to see gas at $3.69/gallon?!? But once I fill up and pull away I remember all of the other things again and I'm back to wondering how high prices on everything will go, whether I'll be able to retire one day and why we (as a country) continue to go further into debt over things that I don't believe in, and won't spend on the things I do.

    August 12, 2008 at 2:33 pm |
  40. KarenB in Polk City, Florida

    We live in a 42 foot diesel motor home. apx. 150 gal tank. one trip from Floriduh to NC to see grandkids drastically impacts their "inheritance". also gas vehicle . Right now the difference between what we saw
    $4.79/gal for diesel and 4.06 for gas, and now lowest saw $4.55/gal diesel and 3.62 for gas doesn't improve
    our outlook a whole lot. Especially since we figure it will go back up anyway.
    No, we're not "rich folks" out running around the countryside, we do travel a little, but just like folks with stick n brick houses, we have
    bills to pay and food to buy and live just like everyone else, and have to decide where, when, how to spend our income.
    Can guaranteeee..if a hurricane is coming, it won't matter how much fuel costs, we'll be on up the road!

    August 12, 2008 at 2:34 pm |
  41. David Richards

    Gas prices won't improve my outlook until they get down to around $2.00 a gallon. Anything over $3.00 a gallon is a drag on my meager finances.

    August 12, 2008 at 2:34 pm |
  42. Michael, Lorain, Ohio

    Nope, but getting the greedy oil barons out of the White House definitely will!

    August 12, 2008 at 2:34 pm |
  43. Ms. Serevi from Santa Fe

    Ah no. I still pay record prices for groceries. By the way in some places in Albuquerque they pay $3.57 a gallon while we Santa Feans are still at around $3.85.

    August 12, 2008 at 2:35 pm |
  44. Jan Davis, Knoxville, TN

    Yes, anything that makes my life easier financially is greatly welcomed. If the Bush Administration wonders why the economy is in such bad shape, it is because average Americans are paying so much for gas and electricity they have no money left for other necessities–this while the fat cat Republicans get richer by the day. The oil companies and other big businesses are taking advantage of the situation and driving up prices! Even at places like K-Mart, ordinary items like toilet paper have gone up in price each time I'm in there.

    This is why we need to elect Obama who will work hard to get us out of this hopeless situation!

    August 12, 2008 at 2:35 pm |
  45. Beartrack Truckee,CA

    Does anyone else see this as Bush and his oil buddies manipulating the prices just before the election? Notice how it has gone up, then down at the right moments? Wake up America, you are being used by these criminals in the White House.

    August 12, 2008 at 2:35 pm |
  46. Judie from St. Augustine, Fl.

    Improved my outlook on what? Gas prices will go up and down, grocery prices will keep going up, taxes ditto. My outlook has changed in as much as I am being real careful where and when I spend my money. You know using a budget and planning for worst case senerios because I don't think the end is in sight yet. Our ancestors made it through the Depression and some got stronger from the experience. Time will tell how our generation fares.

    St. Augustine, Fl.

    August 12, 2008 at 2:36 pm |
  47. Ed Reed

    No! Oil production began in the U. S. in 1859 and peaked in 1970 at 9.6 million barrels a day. Today, despite all the subsequent drilling in Alaska and the Gulf of Mexico, our daily production has declined to 5.1 million bbls while our daily consumption has increased to 21 million bbls. The long term fundamentals are not good.

    Ed Reed
    Port Aransas, TX

    August 12, 2008 at 2:36 pm |
  48. douglas gengler

    no, the middle class has been hit hard for the past 3-5 years and the well to do are just now figuring that out. it will take decades for the non-rich americans to get back to the living standard we had befor bush and his self imposed iraq war which started this whole mess! one hurricane will put gas back to where it was or even higher.

    doug in knoxville arkansas

    August 12, 2008 at 2:36 pm |
  49. Femi, Knoxville Tenn

    No. I do not think I will ever let myself get up in the trap again, I am going to continue to live the way I was living when the gas was above $4 – Drive only when it necessary, buy only what is necessary, and eat only when it is necessary.

    Femi, Knoxville, TN.

    August 12, 2008 at 2:37 pm |
  50. Erico 33139 FL

    That Hummer on the unsold lot is begining to look very sexy !!!! Can't wait till it drops to about 105 to 100 a barrel.

    August 12, 2008 at 2:39 pm |
  51. Pat, Greenville, Ohio

    Not so much my outlook but it certainly helps the pocketbook. I saved 50 cents a gallon today since the last time I filled up. I don't want to give my age away, but I can remember when gas was 50 cents a gallon.

    August 12, 2008 at 2:39 pm |
  52. alex santiago, brooklyn , ny

    jack, we know the drop on gas prices wont last a long time. even though they have drop some, i'm still paying $30 or 40 dollars more for grocery. things will just get worst until we fix the problem that we are having with oil which has become an addiction hard to overcome.

    alex santiago, brooklyn ny

    August 12, 2008 at 2:39 pm |
  53. Burt, Sun Lakes, Az

    No it hasn't. It seems the public has short memories. Prior to the 2006 election the gas prices droped and look where they went after the election, right through the roof. Just wait until the winter heating oil season comes after the election. I shudder at the thought.

    August 12, 2008 at 2:40 pm |
  54. Ralph in New York City

    No, Jack - are there any signs that this may continue? Without actions that have been taking to keep this trend, we might expect a rise in oil prices at any time. The only way to keep prices dropping is through more drilling in our own property combined with development of alternative eneergy sources.

    August 12, 2008 at 2:40 pm |
  55. Paul

    My outlook has not changed but I feel a little better with lower prices. But Jack you know this will not last by next spring if not before the prices will spike back up. The oil companies will raise the price of oil because the pipeline in Georgia was bombed up number one. The new President will be elected in November up number two. The new President will be swaren in up number three. The new President will review the nations energy policy up number four. Kids get out of school 2009 so vacation use of gas should be up thus up number 5.
    The prices will only go up in the long run. What burns me up the most is when the cost of a barrel of oil goes up on the world market the cost at the pump hits you bettween the eyes long before that oil is even in the line and they say that is not price fixing.

    August 12, 2008 at 2:41 pm |
  56. Michael In Maine

    I've been long predicting this fall in oil prices. It always happens just before an election. Big Oil and their "GROSS" record profits for the last 24 quarters is smart enough to ease up on during the election season so they can keep getting their pals in the White House and Congress re-elected.

    Michael In Maine

    August 12, 2008 at 2:43 pm |
  57. Jerry,OK

    Twenty six days of falling gas prices illuminates how greedy speculators cause high gas prices...not quantity and demand. So, as long as oil is on the futures-market, an improved outlook isn't possible

    Jerry N/Oklahoma

    August 12, 2008 at 2:43 pm |
  58. Paul

    Exxon loves it when the price of oil goes down, That's when they really
    rake it in. The price per gallon goes down a whole lot slower then when it is on the rise. Just delaying the price at the pump a few extra days or a week sends there profits threw the roof.


    August 12, 2008 at 2:44 pm |
  59. Peter Connecticut

    The drop in the price/bbl of oil hasn't improved my outlook one bit. When oil was $143/bbl my price at the pump was $4.07/gal and the prices were increased daily during the run up. Oil is now trading below $115/bbl. A 34% decrease. My price at the pump is $3.83/gal. A drop of 6%. Not enough to make a difference. The underlying pressures on both supply and demand haven't changed. They can only get worse. The oil companies got us to $4/gal. and we accepted it. They're going to give us some small relief through to the election then get the prices right back to $4 and more.... lots more.

    August 12, 2008 at 2:44 pm |
  60. Greg Lancaster, Tx

    Hardly, only my bank balance

    August 12, 2008 at 2:45 pm |
  61. Marilyn from Louisiana

    Jack, NO. The gas prices in our town has only gone down 2 cents. ($3.98) as of this morning. The price per barrel compared to our price per gallon is not proporation properly. There is something wrong with this situation.

    August 12, 2008 at 2:45 pm |
  62. bertha doucet

    Jack,The falling gas prices have improved my outlook,every pennies save at the pump helped!!!! The only thing we need now is to elect the right leader! Houston Texas

    August 12, 2008 at 2:46 pm |
  63. Major Michael "C" Lorton, Virginia

    Jack: Has falling gas prices improved my outlook? Jack, don't be deceived with the first appearance of falling gas prices, for show is not substance. First appearance deceives many.

    August 12, 2008 at 2:47 pm |
  64. JS

    No, any reduction is a temporary respite, I'm not counting on anything, especially anything that takes our minds off what is important, e.g. cheaper hybrid cars, solar & windpower. When we can show OPEC we can do it, they will probably drop the price of oil to keep sales up.

    August 12, 2008 at 2:48 pm |
  65. Marie, Ewing, NJ

    Yes, it has made me more aware of energy conservation in our personal daily life. I now practice 'Unspending' especially on little treats (Starbucks) and unnecessary items, I used to spluge on.

    August 12, 2008 at 2:49 pm |
  66. Caryn, Washington DC

    Hmmm...before we invaded Iraq, gas was $1.49. Why on earth would I be excited about $3.86? I mean there's inflation and then there's this.

    August 12, 2008 at 2:49 pm |
  67. Michelle, Washington DC

    It's called we are all driving less, therefore reducing demand, so the prices came down. In no way (unless one is completely delusional) is this the harbinger of a great economic turnaround. That kind of Peter Pan thinking is what got us into this whole mess.

    August 12, 2008 at 2:49 pm |
  68. Odessa

    NOPE!..you gonna have to pay gas and oil whether its high or not...

    August 12, 2008 at 2:50 pm |
  69. Terry from North Carolina

    Falling gas prices are just the lull before the storm I have no doubt gas will go back up before labor day. We are in trouble if we have to worry about a pipe line in Georgia that was damaged by an attack by the Russians, and it will eventually have an affect on our oil supply.

    August 12, 2008 at 2:52 pm |
  70. Tim in Vero Beach

    Dear Jack,

    Falling prices isn't the issue, it's how fast they went up and how slowly they go down.
    I hate the way all the gas that is in the pipeline and on the way to the stations strangely increase in price the same day prices go up when
    we know darn well it was produced at a lower price and everyone knows it.
    I think the industry ought to be regulated again to bring some semblence of fairness back to the pricing structure and my friends that work at the stations agree.


    August 12, 2008 at 2:52 pm |
  71. Mike, Syracuse, NY

    Well Jack, it must be because of that decisive action Congress took on energy. They went on vacation. Maybe we should keep them there. Things do seem better with them gone.

    August 12, 2008 at 2:52 pm |
  72. Jay in Texas

    Not much, Jack. When gas prices get below a dollar a gallon, where they should be, my gloom will lift. As for now, I am in the same boat with millions of other Americans who have had their freedom to travel and vacation taken away from them by greedy oil corporations and the government that supports them.
    Brownwood, Texas

    August 12, 2008 at 2:52 pm |
  73. perry jones

    yes mr bush started the ball rolling now it is time for congress to grow up and do there job if your child leader will not play with others then do the rest of us a favor and replace them thank you
    perry j
    council bluffs iowa

    August 12, 2008 at 2:53 pm |
  74. Chris, Thousand Oaks Ca

    No. It's a false sense of feeling the prices will continue to go down. If you go back the last several years, the prices go up, shock people, then go down a bit but not back to their previous level. Then they go up drastically again, then recede a bit..etc. You get the pattern ... we'll get used to this level and then they'll go up again, then recede a bit.. and so on and so on. We have a short attention span and just keep on driving.

    August 12, 2008 at 2:53 pm |
  75. Sam from Philadelphia, PA

    As I join the ever-swelling ranks of the unemployed, I must say that I couldn't care less about falling gas prices. What does the price of gas matter if I'm not drawing an income?

    August 12, 2008 at 2:53 pm |
  76. Larry from Georgetown, Texas

    Nope, history never lies. We will be above 5 dollars for gas by Christmas or shortly after the election.

    August 12, 2008 at 2:54 pm |
  77. Greg in Cabot AR

    Falling gas prices have improved my outlook for my vacation in September. I plan to visit the kids and grandkids four states away. I have to get this done before the election because I look for prices to rebound when the votes are counted.

    August 12, 2008 at 2:54 pm |
  78. Scott - Wichita, Kansas

    Not really, now, instead of costing 47$ at the pump, now it costs me 42. Wow, I can ALMOST buy a single meal at Burger King with that...

    August 12, 2008 at 2:55 pm |
  79. Steve of Hohenwald TN.

    Nope! It`s just a carrot on a stick. Trying to lead us away from an alternative.That wouldn`t be good for buisness.

    August 12, 2008 at 2:55 pm |
  80. Jonathan, Hartford, CT

    No. I fear hard times will beset many seniors, the poor, and the working class this winter. Heating expenses, food, and rents will have a negative impact on Americans.

    August 12, 2008 at 2:56 pm |
  81. Craig, Ocala FL

    Jack with the food cost, power bill and just about everything else up, we are grateful for a little help. But it just isn't enough and I'm inclined to believe that this is group fix to look better before the election. When the 3 foreclosed houses in my neighborhood sell, then my wife and I will feel better.

    August 12, 2008 at 2:56 pm |
  82. Derick, Greenlawn NY

    Yeah, gas prices fell, but it's only because China took about a billion cars off the Beijing roads for the Olympics. Give it a week.

    August 12, 2008 at 2:56 pm |
  83. Tom in Desoto Texas

    Not really. Unless there has been new oil actually CREATED, not just discovered, falling oil prices is nothing more than a false sense of security. Pumping a resource from the ground does not do anything to get the world off non-renewable energy. Why is it that only politicians, and oilmen of course, fail to understand that?

    August 12, 2008 at 2:57 pm |
  84. Dwayne (Atlanta)

    Umm, can you get back to me? I have to go pay the cashier $102.55 for filling-up my suv.

    August 12, 2008 at 2:58 pm |
  85. Pablo in Arlington Texas

    Is the bear Catholic? Does a Pope poop in the woods?
    Short answer; Not on your Nellie!

    Pablo in Arlington, Texas

    August 12, 2008 at 2:58 pm |
  86. PC from Atlanta


    No my outlook has not changed. It will probably continue to fall until November and spike right back up after the new government takes control. By mid next year, we will begin remembering the good ol' days of $4 gas

    August 12, 2008 at 3:00 pm |
  87. Ruthie, Stone Mountain, GA

    Falling prices at the pump does not stop my home value from falling. Gas prices is just one problem with our economy.

    August 12, 2008 at 3:00 pm |
  88. Randy, Salt Lake City

    Outlook on what? The economy is still going to tank. The Great Depression, part 2 is just around the corner. Darth Cheney is busy planning his next false flag attack which will usher in a new era of police state USA complete with marshall law. We're doomed, I tell you -DOOMED!!!

    August 12, 2008 at 3:00 pm |
  89. Linda, Ruther Glen, Va

    It's helped Jack, but there is more that is needed to secure the future. Job growth, alternate energy for heating, power, cars, a housing market that is solid, banks that are not failing and I'm sure much more can be mentioned.

    August 12, 2008 at 3:01 pm |
  90. Jenna Wade

    Have 26 days in a row of falling gas prices improved your outlook?


    The falling gas prices are due to Americans reducing their demand because they can not afford the high prices.

    When Americans start to feel comfortable again and start to consume more, the prices will spike again.

    There has been no real solution to the issue at hand by this failed administration.

    Jenna Wade
    Roseville CA

    August 12, 2008 at 3:04 pm |
  91. Robert W. Brooks


    It certainly has a positive short term effect on disposable income but it would be very naive for us to think a one month drop is a permanent trend. The demand for oil from countries like China and India, the conversion to producing heating oil and continued speculation will drive the price of oil back up before the end of August.

    Forest, Virginia

    August 12, 2008 at 3:05 pm |
  92. Ed North Carolina

    The price of gasoline needs to stay high so that we can and will focus on the need to develop alternatives sources of energy. If it drops too much we will forget the pain and fire up that SUV again. Americans seemingly need to be forced into realty.

    August 12, 2008 at 3:05 pm |
  93. Terri from Southwest VA

    My outlook has not changed yet. Perhaps if prices continue to decrease and prices of other products decrease, then I might have a change in attitude. At this moment, I am skeptical of the prices decreasing because I am expecting something else to happen-you know, waiting for the other shoe to drop so to speak.

    August 12, 2008 at 3:05 pm |
  94. Chryssa

    Gas stations owners here must think we don't watch the news – prices haven't budged in weeks. We're still paying well over $4 a gallon in every part of town.

    Boise, ID

    August 12, 2008 at 3:05 pm |
  95. Michael, Pensacola, FL

    Yes fallen prices have improved my outlook and opinion that their fluctuation is nothing but price manipulation by big oil!

    August 12, 2008 at 3:06 pm |
  96. John, Fort Collins, CO

    Short haul, gas prices will continue to bob up and down under the four dollar mark, but they will eventually head back up. In the context of larger economic problems, like the housing glut, our screwed up financial markets, and the continuing elimination of good jobs, we have a long way to go before we uncork the champaigne.

    August 12, 2008 at 3:06 pm |
  97. NANCY , Grand Ledge MI

    I predicted a year ago that gas prices would fall right before the election! Big Oil wants to keep their Republican friends in office! The only thing that will improve my outlook is Obama being sworn in next January!! I won't feel relieved until the Bush regime is history!!

    August 12, 2008 at 3:07 pm |
  98. Ray, Florida

    Not really!
    It's all a part of the game. Gas prices shoot up like a rocket, then fall like a feather, and when all said and done they never go below from where they started. It's just a shell game Jack, and we are the ones that get lubed in the end!

    August 12, 2008 at 3:08 pm |
  99. Diane

    Heck no! Oil Companies are feeling the heat from the public outcry over their profits. They will play nice until our anger calms down, then up will go the gas prices.

    August 12, 2008 at 3:08 pm |
  100. Craig

    Jack, Yes the 20 cent drop in cost per gallon will be a big help, at 20 gallons of fuel per week I'll net 4 bucks. WOW, a pack of cigarettes. Outlook : Cloudy with a cold winter ahead.
    Hiram Rapids, Oh.

    August 12, 2008 at 3:08 pm |
  101. C. Farrell, Houston, Tx

    No, because most people including myself always knew that at election time the gas prices would drop. We have been dooped and robbed all at the same time.

    August 12, 2008 at 3:08 pm |
  102. Pooldoc in San Antonio, TX

    Not really. While the outlook in my pocketbook at the pump has improved, my outlook on the overall economy has worsened. Everyone should relish these temporary falling gas prices because what goes down must eventually go up.

    August 12, 2008 at 3:09 pm |
  103. Harold

    I will feel better when gas prices are back below $2.00, and we both know that will neer happen.

    August 12, 2008 at 3:10 pm |
  104. David

    No!!!!!!! Falling gas prices are a tease. Just like John McCain and President Bush. Until Americans take energy seriously, we will continue to rely on oil, and fail to develop the alternatives that will keep us safe, secure and economically independent. John McCain has had 26 years to get it right, and President Bush has had 8 years. How long will Americans put our survival in the hands of such reckless goons?

    August 12, 2008 at 3:11 pm |
  105. bill mucci

    no way this is just a mind game.gas is still about $2.80 per gal too high

    August 12, 2008 at 3:12 pm |
  106. Linda in Florida

    No! Hasn't anyone noticed that the price of oil / gas started dropping just when GM and Ford were crying over not being able to sell their gas guzzling SUVs? While the price of gas has come down a few cents, why not all the things that had price increases due to the price of gas, like milk, which is still almost $4.50 a gallon where I live?

    August 12, 2008 at 3:12 pm |
  107. Grant from Lava Hot Springs, Idaho

    Let's see, gas prices have dropped 7%, but the price of oil has gone down almost 25%. Remember how quickly the price for gas went up when there was rumor of war, conflict or weather? The current prices are just a reflection of our not driving as much. How much more conservation and limited driving will we do? When the price goes down, we drive more and increases in prices are right behind. Get used to it!

    August 12, 2008 at 3:13 pm |
  108. Frank from Peterborough

    Jack why is it whenever a blog mentions the Canadian Oil in comparison to the U.S. oil supplies it is taken off and people aren't allowed to see the truth. I expect that from most parts of the news medias but thought you were better than that.

    August 12, 2008 at 3:14 pm |
  109. Marty, Idaho

    It's funny how I keep hearing the media talk about falling gas prices, but they have been steady at $4.05/gal here in Idaho. When exactly is this $3.80 per gallon going to take place so that I can decide whether my outlook has changed?

    August 12, 2008 at 3:15 pm |
  110. Rex in Portland, Ore.

    As long as our economy is based on oil there can be no cause for optimism. Not for the prices of fuel and services, not for the environment, not for ethics in doing business, not for security.

    August 12, 2008 at 3:15 pm |
  111. Ralph, Corpus Christi

    No Jack, it's still getting ugly out here with rising food prices, property taxes, utility costs, auto & home insurance and all the while a cost of living increase is few and very far between.

    August 12, 2008 at 3:18 pm |
  112. Praetorian, Ft. Myers, FL

    No way.
    Gas prices will be up a dollar more than right now next year. This is just a temporary reduction in prices–just look at the past 3-4 labor days to verify. One year later–up over a buck.

    Also–the job situation is very bad. In my town the unemployment rate is 7.5%...considering most employees are part-time and seasonal I'm sure the actual rate (the one government doesn't really have data on from the unemployment offices because people are eligible for benefits or don't bother to file) is beyond 10%.

    Let's not forget to look at rising costs everywhere else too. Groceries are double last year, increases in insurance, utilities/services, and tuition for college are up by double digits.

    It's still ugly–and apt to get far worse.

    August 12, 2008 at 3:19 pm |
  113. Keith - Cleveland, OH

    Hell no, Jack. This is only pacifying us to be quiet so that we will have our heads turned while congress is planning their next shyster tactics.

    There is no long-term plan, no short-term plan, and no plan PERIOD, for any kind of energy independence action.

    August 12, 2008 at 3:19 pm |
  114. James, Prescott,Michigan

    No....but Christiane, on the Brazil women's soccer team, sure did today. She made 2 goals in 2 minutes and the second goal was with a flip over backward with a bicycle kick that reminded me of Pele when Jack and Wolf were boys. She was truly great and made my outlook better today! She should be recognized and lauded by CNN and the world today.

    August 12, 2008 at 3:20 pm |
  115. Raymond Duke/Gatesville,Tx.

    Of course it has . As soon as Bush lifted his part on the drilling ban the prices started falling. Now if the idiot democrats in the senate and house will do the same gas would within one month be down to 300 or less a gallon. Them fanatic middle eastern countrys and Hugo Chavez depend on oil revenues. You can't eat or drink oil.

    August 12, 2008 at 3:21 pm |
  116. Pietro from NYC

    When the price for a gallon of gas holds steady under $4 people will start driving more and conserving less, and the price will inch back up. Until we have a President willing to go the extra mile to support significant conservation efforts the gas companies are going to play us like yoyos.

    August 12, 2008 at 3:22 pm |
  117. wally Ruehmann las Vegas nv

    this price drop was very predictable, big oil threw money to the republicans now they, enturn must drop the gas prices until the nov. election so they can look good. just wait , after the election all hell will break loose in the dead of winter, heating oil , gas , etc will go back up plus more. things like this happens every election, just gos to show they can manipulate the prices when they want too.

    August 12, 2008 at 3:22 pm |
  118. Jim

    No, America long ago ceased to accept responsibility for living within its means. What gives any nation the right to expect to have access to resources outside its own boundary? Learn to live with your national resources and consider anything beyond that good fortune.

    August 12, 2008 at 3:23 pm |
  119. Mike - Hot Springs, Ar.

    Does not make any diff. to me. My wife and I continue to do what we have been doing since we retired. Just enjoying life and not worrying about gas. As long as you live within your means such things do not make much diff.

    August 12, 2008 at 3:23 pm |
  120. Frank from Peterborough

    Well 69% of the people surveyed support off shore drilling and more than that supported the invasion of Iraq. It would seem the U.S. has a large majority of it's people willing to self destruct over Republican rhetoric that just keeps leading them down the garden path.

    Why wouldn't people just stop and look at oil prices before the Iraq invasion and compare them with today's prices and figure out how to bring the cost down in the same manner Bush and big oil figured out how to get them so high.

    August 12, 2008 at 3:23 pm |
  121. David,San Bernardino,CA.

    No,my outlook has not changed much. One good thing to come from the high prices is that I'm losing weight,whether I want to or not.

    August 12, 2008 at 3:25 pm |
  122. Pugas-AZ

    My outlook still stinks. Twenty six days does not a trend make. Beware of near term reactions.

    August 12, 2008 at 3:48 pm |
  123. Jasmine in Germany

    Well, the majority of U. S. Americans who have lights, air conditioning, TV's and computers on/running in rooms which are not in use haven't noticed. That's the sad part. Pumping tires to the proper pressure is a good start.

    The misuse of energy concern has had less media coverage within the past few weeks, people are likely to respond positively to your question.

    August 12, 2008 at 3:48 pm |
  124. anna in new mexico

    Give me a break! I'm supposed to be okay with it since its 40 cents less than the all time high. Its still nearly double of what we were paying before Bush took office! Ahhhh, the psychology of pricing!

    August 12, 2008 at 3:50 pm |
  125. John in Atlanta

    No, Jack. It's still about $3 to high!!!

    August 12, 2008 at 3:51 pm |
  126. Rob, San Diego

    No my outlook hasn't improved. Gas prices are always highest during the summer when demand is highest. This year is no different. Prices will begin to rise again next spring. I would be surprised if gas is not at least $5 a gallon by memorial day 2009.

    August 12, 2008 at 3:52 pm |
  127. Al, Lawrence KS

    What's to feel good about? Exxon made $12 billion profit last quarter. Maybe it will only be $11 billion this quarter. Is that supposed to make me feel good?

    August 12, 2008 at 3:53 pm |
  128. David in Granville, Ohio

    Jack, when will Americans wake up and realize they do not control the world? Falling gas prices have little to do with the promise of "offshore oil drilling" – and everything to do with oil speculation and demand from China and India.

    This temporary relief is bad news on two fronts:
    (1) The idiot Republicans will believe their own spin that they influence world events with daft gimmics
    (2) The agressive drive (finally!) away from dependecy on foreign oil and towards alternatives will take a back seat again. (Sigh)

    As most of this is driven by speculators – you guessed it – prices are likely to rise just as fast again as they are now falling.

    August 12, 2008 at 3:54 pm |
  129. Kyle Irvine, CA

    It's not as painful for me at the pumps anymore. But I know as fast as prices can go down, they can go up just as fast.

    August 12, 2008 at 3:55 pm |
  130. Rosalynd Florida

    My outlook on the economy is the same, it still needs fixing. My faith in the American peoples ability to cut back and stop shooting themselves in the foot with excess has changed for the better.

    August 12, 2008 at 3:57 pm |
  131. Alan - Buxton, Maine

    Americans are just stupid enough to be glad that they are not getting screwed quite as bad as they were a month ago. A year ago we would have been outraged at the current price of gas but now we are happy with the same outrageous price. When will we ever learn.

    August 12, 2008 at 3:57 pm |
  132. Efren

    How can it improve my outlook? I don't have the money to put the gas in my car to begin with! I am trying to find the money to keep a roof over my head, let alone drive anywhere.

    Mesa, AZ

    August 12, 2008 at 3:58 pm |
  133. sarah, indiana

    improved outlook, NO. improved ability to fill up the tank without crying or swearing, YES.

    August 12, 2008 at 3:58 pm |
  134. Brandon Shelton, CT

    No, gas prices are still way too close to $4 for comfort. I'll start feeling a little more relieved if they (if ever) drop below $3 again.

    August 12, 2008 at 3:58 pm |
  135. Michael from California

    No Jack,
    Have you ever noticed that the prices never fall below where they originally started. I'm convinced that this is all just a ploy to get us all used to gas being priced at $4 per gallon. After the price jumped as high as $4.70 we all are saying 'it's only ....' now that the price has gone down, but it's still higher that when this whole sad thing started.
    Next time, the price will spike up to over $5 per gallon, and then drop back to $4.50 or $4.75 and we'll all be happy, saying 'it's only $4.50 per gallon'.
    Call me cynical, but I believe that this is all just manipulation to make more money for the already wealthy oil exec's.

    August 12, 2008 at 4:00 pm |
  136. Maggie Muggins

    How can lower gas prices improve anyone's outlook when you have a presidential candidate like McCain belittling other foreign leaders and condemning them for copying his own agenda?

    The big concern should be will McCain get elected and if so how many more lives will be lost in how many more wars.

    August 12, 2008 at 4:02 pm |
  137. Donna

    As if no one expected the gas prices to drop so close to the elections...we all knew that the Repubs and George could have done this A LONG TIME AGO..they love to look like the great cowboys coming to rescue us common people!!!

    August 12, 2008 at 4:02 pm |
  138. Shannon Wadding, St. Paul, MN

    No, I am still looking for employment for five years now and I do not think that falling gas prices have any more effect on me then this economy.

    August 12, 2008 at 4:02 pm |
  139. Gerald

    Haven't noticed decreasing prices, still stranded at home trying to pay last months bill of four fill ups.

    August 12, 2008 at 4:03 pm |
  140. aaron in Carolina Beach NC

    Wake up america, 3.50 a gallon is not good. What about next year in June when gas skyrockets to 4.50 We will back to right where we were a month ago. Oil and republicans will send our country to an early grave, yet you fools wont wake up.

    August 12, 2008 at 4:03 pm |
  141. Dori in AZ

    Are you kidding, Jack? Reducing fuel by a few pennies at the pump doesn't make a definable difference. When fuel prices have fallen several dollars at the pump - and we've got a good energy policy in place - we can have this discussion again.

    August 12, 2008 at 4:03 pm |
  142. pam of toledo

    my outlook will improve when the price at the pump goes down as fast the price on a barrel of oil. at 2.50gal i will dance.

    August 12, 2008 at 4:05 pm |
  143. Barbara Barton

    I live in the Cherry Hill NJ area I'm paying anywhere from $3.45 to 3.51 a gallon, I see lots of Pennsy tags from Phille coming over the bridge for gas.

    August 12, 2008 at 4:06 pm |
  144. Joan VA

    Not as long as food prices and utility bills are rising as fast as they are doing. The oil prices are bound to drop as the speculators realize it is time get out of the future markets as they are starting to lose money

    August 12, 2008 at 4:07 pm |
  145. Caroline (McMinnville, TN)

    Let me answer your question with a question: Did those piddly, ridiculous economic relief checks improve your outlook? I'd say what bit of that money that didn't go to Exxon-Mobil went to China by-way-of Wal-Mart. Lowering gas prices is a political ploy and it is probably only making people buy more gas. I'm even guilty of it! I recently took a long weekend trip that I wouldn't have taken if it hadn't have been for the temporary decrease in gas prices. Nothing will improve my outlook until we put America back to work by investing in renewable energies, improving our infrastructure, and ceasing to reward corporations that ship our jobs overseas and make windfall profits.

    August 12, 2008 at 4:09 pm |
  146. ET


    August 12, 2008 at 4:09 pm |
  147. Jerry from Jacksonville

    Hell no, this is just another tatic of big oil to give us a false sense of a price reduction, wait until after the election and watch the prices go out of sight

    August 12, 2008 at 4:09 pm |
  148. Dave from Maryland

    No. As long as the dollar remains week and the world depends on oil, the future looks bleak.

    August 12, 2008 at 4:30 pm |
  149. mitchell ,arkansaw

    funny it always goes back down just before an election.i wonder why?

    August 12, 2008 at 4:30 pm |
  150. James K Chambliss, Destin, Florida, 32541

    Falling gas prices are only a part of it. It'll be great if we had some honest job growth that involved building things than selling them, rebuild the crumbling infrastructure, get out of the importing energy trap and perhaps export some of it for a change, and give those who want it a hand out of their poverty. Course, like everything else these days, we always seem to go for the short quickie than the long term solution like some politicians want us to.

    August 12, 2008 at 4:30 pm |
  151. Norman Gelman

    Why should it? We went back to sleep after the gas crisis in 1974.
    Sheer stupidity. Are we dumb enough to do it again?

    Norman from MD

    August 12, 2008 at 4:34 pm |
  152. Nick - Cary, North Carolina

    Gee Jack

    I hope falling gas prices don't destroy the speculative value of all the full cans of gasoline I am hoarding in my back yard. I figured that my wise investment in fuel was the only safe place I could put my money in this economy Heck even banks are not safe. I hate to think that I soon may have to sell the gas at a loss and convert that money into an alpaca farm. Luckily once the cans of gass are gone from the back yard I will have plenty of room for the alpacas. And just let some home forcloser dude try to evict those alpacas to sell my property! Alpacas don't like to move, and they love to bite.

    August 12, 2008 at 4:35 pm |
  153. stephanie/houston/tx

    WHY? Even my grandaughter Knows It's only politics, cause the Big Oil Companies want us to be grateful enough to vote McCain. Surprise, they Back McCain.

    August 12, 2008 at 4:35 pm |
  154. Brian

    Maybe gas fluctuates, but prices at the grocery store only increase, never decrease. Besides, give it 2-3 months and gas prices will be on the rise again! Time for us to stop sending our money to the Middle East and the Banana Republic of Venezuela. Alternatives abound, let's pick one or two and develop these into viable alternatives. If we put a man on the moon in less than 10 years, why not an alternative to oil by 2015.

    August 12, 2008 at 4:38 pm |
  155. Greg Ontario

    No it always does this. They jackup the prices (no pun intented buddy) 40 or fifty cents then when they realise how angry we are they back it down 25 cents and see aren't things going well? We have let them get away with it for decades Jack it's our fault.

    August 12, 2008 at 4:39 pm |
  156. Hope


    Shouldn't matter but to a junkie in need of a fix price is everything... We've become hostages of our excesses (the real terror); energy junkies, addicts... Always looking for the next fix... In stead of a war on drugs & terrorism, we need a war on energy addiction (300 million addicts)...

    Hope from Georgia

    August 12, 2008 at 4:39 pm |
  157. Irene

    We're "addicted" to oil, Jack....... like any addiction, it will do us in if we do nothing about it.

    August 12, 2008 at 4:40 pm |
  158. Greg, PA

    Jack I was able to quit smoking when cigarettes went over $4 a pack but I don't have the luxury to be able to quit gasoline. Do lower prices make me happier, not as happy as I be if you stopped asking stupid questions that for some reason I respond to everyday!

    August 12, 2008 at 4:41 pm |
  159. Andy Chisels, Connecticut

    The falling gas prices have occurred for a variety of reasons, beginning with the demand being reduced because of conservation and cutbacks of use. George Bush's act of lifting the ban on drilling also had an effect on speculators. If we drill and there is more product, demand will fall and so will prices. We need to be self sufficient for our energy with oil, wind, solar, natural gas, nuclear and whatever else our American ingenuity will come up with. Let's end our dependence on foreign energy.

    August 12, 2008 at 4:42 pm |
  160. Jama from Ohio

    Jack, I certainly believe there has been a fall in demand which has caused a decrease gas prices. Based on the CNN poll 42% of people are not interested in a hybrid. The thing Americans need is an intervention or change in thinking. Just look at French they drive small cars and use nuclear power. So the answer to that question is a no Americans will return to there big Hummers and than the gas prices will increase ;just wait a couple months.

    August 12, 2008 at 4:43 pm |
  161. Maritza

    It is slightly comforting to see the price drop from week to week, but when compared to gas prices ten years ago or even a year ago my relief is quickly ended. If Americans think that this drop in prices is permanent, we have a larger problem on our hands. One that can't be fixed by a two cent decrease in prices in ten years by drilling off-shore.

    August 12, 2008 at 4:44 pm |
  162. Steve - Wyoming

    Oil prices are a game. They go up alot, then down a little, then up alot. Ever notice how oil prices seem to fall just a tad when Republicans get in trouble and then go back up once the trouble has passed?

    August 12, 2008 at 4:44 pm |
  163. James from Texas

    Being somewhat cynical at times it is probably a plot to get us to think paying 3.25 per gallon is a great savings compared to almost $4.00. It will stay there for a while, the energy will make obscene profits and do nothing about developing new forms of energy or establishing independence like Brazil has been able to accomplish.

    August 12, 2008 at 4:44 pm |
  164. Lee MN

    It just reinforces that the prices were inflated for political reasons. It is part of a political ploy to give more oil rights to Bush/Cheney buddies. Did you ever have a problem that the station was out of gas?? What else could the GOP do for scare tactics to get attention?

    August 12, 2008 at 4:45 pm |
  165. Lynn - frustrated Republican, CA

    Actually my outlook improved BEFORE the falling prices, I saw that American's can get the message to conserve (even if it took a baseball bat to the head) – we can get the message about global warming – we can understand the signifcance of depending on foreign oil and all because we got pinched at the pump – I'm worried now that the message won't stick.

    August 12, 2008 at 4:46 pm |
  166. Beverly -NYC

    No, Jack my outlook has not improved. For those of us in the east home heating season is just around the corner. If we have a bad winter and demand increases prices will just rise again. While you have a choice to drive or not home heating is not an option.

    August 12, 2008 at 4:46 pm |
  167. Lee MN

    Why are oil companies buying more oil than it is distributing?? To create a false shortage in drive the price up. Who is stopping them?? The GOP is says drill drill drill and rape America for the selfish today and the hell with future generations.

    August 12, 2008 at 4:47 pm |
  168. Deb in Lancaster, PA

    Jack, I'm not that easily fooled. Dependence on foreign oil has not disappeared...and that is the problem. Once that problem is solved through aggressive policies on efficiency standards, development of alternative fuels, and a retooling of the American consciousness, then I won't feel so gloomy.
    As T. Boone Pickens says, "We can't drill our way out of this."

    August 12, 2008 at 4:49 pm |
  169. VA2CA, San Diego

    Isn't it funny how the price of gas has fallen since it was determined that the economy was the number one issue on the minds of voters (since traditionally a weakening economy is THE impetus for voters to kick out the incumbent party)?

    August 12, 2008 at 4:49 pm |
  170. Robb Edwards

    No, the pain must sustain until it's Big Oil's bane. Alternative energy , conservation and the environment haven't a chance in the face of cheap gas.

    August 12, 2008 at 4:49 pm |
  171. Allen in Hartwell GA

    Jack, it'll take a lot more than 26 days of falling gas prices for me to feel good. When Americans use less gas for about two years and keep gas prices falling for that time, I'll assume we've learned a lesson and then I might have a better outlook.

    August 12, 2008 at 4:50 pm |
  172. Joe St Louis, MO


    I will be relieved when our government and giant corporations are no longer attached at the hip.


    St Louis,MO

    August 12, 2008 at 4:50 pm |
  173. Neatha in Kansas City

    No, not enough. My weekly food bill has gone from $150 a year ago to $300 now. I don't see that coming down. It is going to take a long time to turn this titanic around.

    August 12, 2008 at 4:55 pm |
  174. Tom Kennedy

    A month ago the speculators were the bad guys, driving up the price of oil. Now that those same speculators are buying short (betting that the price will come down) why aren't they being "blamed" for driving the price down? You can't have it both ways!

    August 12, 2008 at 4:55 pm |
  175. Mike Smith, New Orleans LA

    Yes, I am 22 cents more confident about our future.

    August 12, 2008 at 4:55 pm |
  176. judy jenkins

    Obama is not only running against McCann. He is also still running against the Clintons.

    August 12, 2008 at 4:57 pm |
  177. Mike P. L.A.

    You and I both know, it's only going to go back up.

    August 12, 2008 at 4:58 pm |
  178. Jannis M. Glover Savannah, GA

    No. Until prices for food and other neccessities that went up due to the surging cost of fuel began to come down, my outlook on the nation's economy will not improve.

    August 12, 2008 at 4:58 pm |
  179. I Jackson

    Absolutely Not!!! they are a bunch of divisive idiots.

    August 12, 2008 at 4:58 pm |
  180. Rose

    No. And having Senator oil-heir-farragamo-loafer McSame tinkering with international affairs on his cellphone while his Red Party blocks legislation to stop energy and commodities speculation isn't helping either.

    August 12, 2008 at 5:00 pm |
  181. Jeff Crocket

    My outlook was and is good, because I don't listen to doom and gloom.

    August 12, 2008 at 5:01 pm |
  182. CJ in Roanoke, VA

    I believe that gas will gradually fall to about $2.75 in the days before the election so that McCain can get in. Once he gets elected, I expect to see all time highs in both oil and gas prices. The tax policies of Obama scare big business too much to take a chance on him. Big business wants McCain in charge, to the detriment of the masses.

    August 12, 2008 at 5:01 pm |
  183. mary walsh

    Jack: the last I heard this was a democracy and thus alot of delgates were elected precisely to vote for Hilary – would you like to deny them their obligation and force them to vote for someonelse – it sounds like that – welcome to Russia

    August 12, 2008 at 5:01 pm |
  184. Rob in Jacksonville, FL

    Now people can save some money when they have to drive to the Unemployment office for their checks!

    August 12, 2008 at 5:02 pm |
  185. Liz in West Hollywood, CA

    If I still had a job to go to, I suppose I'd be heartened.

    August 12, 2008 at 5:02 pm |