Outside Reading Blog Post #3

Today I read an article about gas prices. According to the article, the demand for oil has decreased and that is why the prices are dropping. This drop is quite substantial. In fact, prices are now half of what they used to be back in July. Only two states, Alaska and Hawaii, are paying over $3 for a gallon of gas. The American Automobile Association (AAA) reports that it has been nearly two years since prices have been this low. On July 11, 2008, a barrel of gasoline cost $147.27. That figure has dropped nearly 60% and gas could be bought at $57.04 a barrel on Friday. As long as the economy is in this rut, eperts believe that the prices will continue to fall.

The entire article can be read here.

This article was written by CNNMoney.com's staff and was posted on cnnmoney.com