PAIN
AT THE PUMP TO BE EASED
By Jon Mayhew
Publisher
July 25, 2008
LINCOLN
COUNTY -- With
the price of a barrel of oil
dropping this week, there's some
relief coming to the pump.
According to The Carolina Scoop's
gas tracker, Gasland USA in
Cherryville has the lowest price
on a gallon of regular unleaded
gas at $3.779 per gallon. The
average price for gas in the
Lincolnton area is around $3.959
per gallon; the highest price is
$4.099 in Maiden.
It usually takes about six days
for gas prices to fully adjust
before consumers see the changes
at the pump.
Oil prices sank to their lowest
point in weeks Friday as
investors questioned whether
crude has cooled enough to
reflect a serious deterioration
in demand. Prices at the pump
eased to nearly $4 a gallon, and
AAA said a gallon of gas could
cost as much as 25 cents less by
Labor Day.
Light, sweet crude for September
delivery fell $2.23 to settle at
$123.26 a barrel in on the New
York Mercantile Exchange. Earlier
the contract dropped as far as
$122.50, its lowest point since
June 5.
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