One bright spot for struggling Americans this holiday: gas prices hit a five year low yesterday. "We're paying about a billion dollars per day less than we were in July" for gasoline one analyst. "We could probably bail out some banks and maybe even some of the auto companies with the savings." The news isn't all good. Pump prices have fallen in part because more families are staying home, driving nine billion fewer miles in October. Pump prices are now down to a national average of $1.64 a gallon, a far cry from the $2.98 average a year ago. Oil producing countries responded immediately with plans for more production cuts.
Read it at Associated Press
