Wednesday, November 26, 2008

Oil Price Drop = Stimulus Package

As I said, these prices put a lot of money in our pockets. (I concede it has as much to do with less driving as the sunsetting of the drilling restrictions.)

From the WSJ:

The U.S. Department of Transportation last week said that gasoline taxes paid into the highway trust fund fell by $3 billion in the 2008 fiscal year.

But the collapse of gasoline prices since the summer -- a drop of more than $2 a gallon in my neighborhood -- is an economic stimulus worth more than $200 billion a year.


Stephanie said...

I'm sure for lots of people it does add up to a fistful of money. For me, it amounts to about $30-50 per month. The psychological benefit for me is much greater. I don't feel oppressed and as if the world is completely out of control, as I'm filling up.

Scooter said...

Yeah, I meant cummulatively. For me, it is a relief to fill up again for under $30.00 (17 gallons).