Where’s the joy for lower gas prices?
The average U.S. retail gasoline price fell 33.3 cents over the last week to $3.15 a gallon, the biggest price decline ever recorded by the government, the Energy Department said this week.
Where’s the rejoicing in the streets on par with the anger and angst reported when gasoline prices were rising sharply?
There is none, and that’s human nature. Studies show we humans suffer far more pain from negative events than we do joy from positive ones of similar magnitude.
You would think that with the crazy gyrations of the stock market, tight credit markets and a worsening economy that we’d be looking for a reason to feel good. But while consumers are intensely sensitive to gasoline prices, it seems that’s true only when prices go in one direction, up. Lately, gas prices have been going down.
Not only have gasoline prices fallen 33 cents over the past week, but 71 cents over the past month. Keeping numbers simple, if you use 10 gallons of gasoline a week, that alone is an annual savings of $372.84. A household with two cars would be saving nearly $750. That’s not enough to make up for your demolished 401(k), but it’s a good thing.
Next time I’m idling at an intersection dominated by gas station signs advertising prices in huge numbers, I’ll force myself to enjoy it.
Do you have information on buying cars?
I note that some unpopular vehicles are being offered at 50% off MSRP.
Howe about cars? Are there non gas-guzzling models that also offer great deals?
If you don’t know, can you suggest where to begin a search?
Thanks.
Greg- We did a “happy dance” at the pump this week. Gas was less than $2.50 a gallon and we filled up for less than $35! Wow! We spent a few minutes guessing what the total price would be while it filled up. My son guessed it within $1.