When was the last time it traded this low? 2 years ago?

21 months ago, yes.

Almost 2 years...

Oil prices sank under 55 dollars a barrel on Tuesday to strike a 21-month low as frresh recession worries sparked fresh fears about slowing global energy demand, traders said.

On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December plunged 4.16 dollars to 54.92 dollars per barrel -- a level last seen on Janury 30, 2007.

At the same time, on the New York Mercantile Exchange (NYMEX), light sweet crude for December tumbled 4.09 dollars to 58.32 dollars, the lowest level since March 21, 2007.

"The short-term focus continues to be on weak demand," Barclays Capital analysts wrote in a research note to clients.

Oil prices extended earlier losses on Tuesday after Wall Street skidded lower in opening trade, with investor sentiment unsettled by fears about a collapse of General Motors and more poor corporate news amid the credit crisis.

The market was also undermined by the strengthening dollar which tends to dampen oil demand because dollar-priced crude becomes more expensive for buyers holding weaker currencies.

http://www.breitbart.com/article.php...w_article=1%22

Shouldn't the Republicans be raising the price back up since the election is over? :)

Yesterday gas was a 1.64 in independence

When I last filled up it was $2.50, and I figured that had to be close to the bottom. But now it's down another thirty cents a gallon. Six months ago it was double that.

Amazing.

It went under $2.00 today. It's a Veterans Day miracle!

looks like there are a few places at 1.61 today!!

http://kcgasprices.com/

WTF is it cheaper there? We're always cheaper down here. Not that I'm complaining, especially since I'm coming up there Saturday.

$1.96! Finally over (under?) that two dollar hump.

Beats me, ask a gas station when you come up

1.89 in Omaha, which is usually .05 or more than across the river in Council Bluffs...We'll be below 1.80 in no time...

I actually heard a commercial for a car dealer on the radio yesterday saying that "since gas prices are no longer an issue it's time to start buying trucks and SUVs again". :shake:

Dude, my friend was looking for a new car this weekend and he said the dealers are taking almost $10,000 off the sticker prices. that is insane!

I suppose I can't blame them for trying to take advantage of this opportunity to dump inventory, but anyone who buys one thinking that gas is going to stay this low is a sucker.