This picture was taken north of the Orlando International Airport on Saturday, November 22, 2008. The price of a gallon of gas in Orlando is now cheaper than it has been in years. I left Orlando right after Hurricane Katrina. Gas prices were approaching $3.00 in those days.Although gas prices in Saipan broke $5.00 back in July, they have dropped to the mid-three dollar range since the price of a barrel of oil has dropped to under $50.
Gas prices in the lower 48 are clearly dropping much faster than gas prices in Saipan. Gas in Saipan has always been more expensive than gas in the mainland, but I don't remember it ever being over $1.50 more expensive. Is something fishy going on or is it just taking longer for the prices in Saipan to self-adjust?
I hope it is the latter. If historical comparisons hold, we can look forward to $2.50 gas in the near future.