Aug. 8, 2005 — Oil hit a record high of $64. Gasoline hit a record high as well at $1.86 per gallon.
Oct. 27, 2008 — Oil falls below $64. Gasoline is currently priced at national average pf $2.66.
Remember when the price at the pump reacted to the mere news of an increase in spot prices? (Yeah, just last month). That kind of responsiveness is missing today… wonder why? 
[Source of data is AAA]
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