Gas drops below $3 a gallon in Belvidere
October 15th, 2008 at 06:09pm Thomas V. Bona
Reports of gas around $2.99 in Belvidere and South Beloit now. Rockford proper is down to $3.09. With oil dropping another chunk today, that should send further relief down the line in prices at refineries, terminals and at the pump. I perhaps will have to eat crow on my earlier predictions that we weren’t going to see gasoline under $3 in Rockford.
Don’t get too used to it, though. We’re entering the low-demand season and once travel picks up next year, prices will likely rebound. Unless we have a further plummeting of oil caused by ongoing economic crises. And then, we’d have other problems to worry about…
Entry Filed under: Fuel price musings
2 Comments Add your own
1. bob trojan | October 15th, 2008 at 6:41 pm
Nice sleuthing, Thomas!
When I came past the East Riverside Mobile station tonight, it had dropped to $3.09, so Belvidere still leads the band. Now it can’t be the difference is sales tax do ya think?
SO how fast will the pump prices fall now that they are $75/barrel.
Any trend charts that show pump vs. barrel pricing over the past year? Bet that would be interesting!
2. Jim Slaton | October 15th, 2008 at 8:56 pm
The sales tax is not an additional 3.3% which it would have to be to account for the difference. The merchants are encouraging this kind of discord with the local government while they gain an additional 2% in profit. It’s simple math.
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