Oil Prices Continue to Fall.
CofCC.org News Team
Crude Oil continues to plunge following the removal of the offshore drilling ban. Crude Oil peaked at $147 in mid-July, and began free falling after Bush lifted the ban. Missouri, Oklahoma, and South Carolina currently have the lowest average gas prices.
Crude Oil: $113.50
Gasoline Wholesale: $2.86
Average gas prices have gone from $4.10 at their peak, to $3.80.
Prices at the pump have fallen 7-8% compared to a 23% drop in crude oil prices so far.