It sure feels like relief to have gas prices as low as they are right now. But does that mean they’re down as low as they should be? And how long do we really think they’ll stay this low? We still need a long-term plan for becoming energy independent.
U.S. gasoline prices are the lowest they’ve been in five years. And they feel even cheaper because they come on the heels of the highest gas prices consumers have paid in three decades.
In 2012, the national annual average for a gallon of regular unleaded gas—the yardstick for gauging prices—hit a high of $3.77, capping a series of years in which the average exceeded $3 a gallon. Before that, the last time the average was so high was in the early 1980s, when, adjusted for inflation, it topped $3.60.
That’s why today’s prices feel so affordable.
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Photo credit Messina
