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Reporter: Chris Woodard
Email Address: cwoodard@nbc15.com

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There is a ray of light in the middle of dark economic times as gas prices tumble downward.

Many stations are below three dollars-per-gallon for the first time in months and it'll get even better before it gets worse.

It may be tough to tell on busy roads but we're guzzling less gas and it's paying at the pump.

Tanya Ley says, "Saving a couple extra bucks here and there kind of counts a little more than it used to."

A bad economy is translating into less demand for oil, allowing local stations to crack the three dollar mark for the first time in months.

There's no question dropping below three dollars-per-gallon is good news for everyone hitting the road, but it gets even better than $2.99.

One PDQ Station is all the way down to $2.97 and that's not the best of it. Right across the street a Sinclair Station is down to $2.96 and that has them awfully busy.

Joe Sulik says, "This is actually my second trip to the station. I filled up my other car about 5 minutes ago."

Experts say prices will probably continue to drop through Thanksgiving.

In Wisconsin we've dropped 77 cents in the last month alone according to AAA.

Julie Foley says, "I can't remember the last time it was below three-dollars-per-gallon but isn't it a sad state that we are excited about $2.97 a gallon?"

Maybe sad, but no doubt a true sign of our times.

Foley says, "Every cent that we earn at this point and time, with the economy as it is, goes to paying our necessary expenditures."

At least there's one price flowing in the right direction.

Industry analysts say enjoy it while you can because once the economy improves and demand resumes, prices will very quickly spike again.

For a little perspective, just one year ago at this time our average price was only $2.83 per gallon.

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Posted by: Joseph on Oct 15, 2008 at 05:10 PM
Isnt it funny how when ever we are months away from a Presidential election, the gas prices drop. Wait until after the election....prices will be right back up to $4.

Posted by: Jo Location: Madison on Oct 15, 2008 at 11:21 AM
Greed is good for business. Ask anyone at Exxon, Shell, BP etc... The more money they make at the pump, the better their bottom line. It's no indication of the usage of gasoline when the price drops a little. Remember that even a RUMOR of supply shortages can spike the price at the pump overnight! This is not a true supply and demand issue, merely gas station owners getting bullied by the major suppliers because they are not getting full dollar value from their product. Nothing will bring down the price of gas faster than a recession, especially if it deepens into a depression. The strengthing of the US dollar is the only real hope of resolving the financial crisis we currently face. It will solve many of the ills in the stock market, housing market and foreign credit markets who are in such bad shape because they have been buying and holding increasingly less valuable US Treasuries.

Posted by: Anonymous Location: madison on Oct 15, 2008 at 10:48 AM
Yeah,so bring on the SUV's again and suck up all the gas again. GOOD RIDDANCE TO THE SUV'S.

Posted by: Rita M Keller Location: Arkansas on Oct 15, 2008 at 10:06 AM
Our gas is at 2.46 right now but people are hoarding it filling anything they can get there hands on.walmartr is out of gas cans right now .But iut is great hope it continues but our light is dim i'm afraid after election it will go back up again.

Posted by: jim Location: madison on Oct 15, 2008 at 08:43 AM
its even sadder to hear only $2.83 a gallon, like that was cheap. But it sure was profitable.

Posted by: Anonymous on Oct 15, 2008 at 08:11 AM
yes everyone make runs to fill up everything you can and start driving SUVs all over the place... cheap gas!!! whoohoo! ..........

Posted by: anon Location: madison on Oct 15, 2008 at 07:51 AM
enjoy it while you can!

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