the daily commute: blog 
the daily commute's blog
thanks, gustav
by Brian ShraderPublished Sep. 2, 2008
One good thing about Gustav: Oil prices are way, way down this morning.
They jumped as forecasters expected the storm to barrel through the major energy production areas of the Gulf as a major hurricane. Fortunately, Gustav wasn't quite as strong as feared.
With Gustav gone, oil prices this morning are down nearly 9 dollars a barrel, hovering just about $106 a barrel.
Of course, gas prices will be slow to drop at the retail level. Many gas station owners have a lot of losses to try to recoup from the $4-a-gallon days. But they are slowly drifting back down. We found $3.45 a gallon at a station on S. Saunders Street in Raleigh this morning.
The tropical threats aren't over for the season -- Hanna, Ike and a new tropical depression in the eastern Atlantic all bear watching for possible impact on energy prices. But for now, a tense energy market is relaxing.
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