So now that gas prices are back down to $2.50 food prices should be going down...

[Lethe]

:sarcasm:

[depakid]

1. Not if they were produced and/or shipped at higher prices

[n2doc]

2. Yep. They will keep prices high 'cause they will be selling much less

Same with shipping costs, airline tickets and other fuel related expenses...

But of course wages will HAVE to come down!

[mentalsolstice]

3. Doesn't seem to be so

Perhaps the cost of diesel has something to do with it. We have Jeep Liberty TDI (we camp a lot), and prices have gone down, but we remember the good old days, when we both drove 1980s Mercedes diesels, and it was cheap as hell.

They're getting us on diesel...that's how our consumer goods are distributed.

[az chela]

4. where is gas 2.50???

It is still 3.49 in az or more

[Lethe]

5. shell station down the street from my house

in Texas

[snappyturtle]

17. Well, I'm out west of Austin by 125 miles and it's $2.75 here with diesel at $3.95.

I think it will take a while for the down turn in fuel prices to effect food prices....and somehow in the back of my cynical head, I doubt they'll go down proportionately.

[Jazzgirl]

18. Me 2 ikhor. I pad $2.49 yesterday morning on the way to work.

I couldn't believe we were back to paying pretty much what we paid last year. I thought about how horrible the prices got 3 months ago and how were people making it. I think maybe it was a test? The oil companies realized they were pushing it and now the speculators have dropped out too. This has been just one (of the many) most ridiculous scams ever.

[99th_Monkey]

21. Gas is $3.09 in Portland Oregon. ~ nt ~

[SoCalNative]

6. Exactly!

It's still 3.29 and more in L.A.

[electron_blue]

8. $2.50 in Minnesota, too.

[jobycom]

9. Wow. You should move.

The media always reports average gas prices as much higher than they are here, and so I'm always wondering where they are so high. Now I know. Bummer, eh?

[obiwan]

16. Bet there's no jobs, either.

[LibinMo]

11. $2.29 here in Springfield MO

I have no doubt it will shoot back up after the election.

[Jazzgirl]

19. My home EHK. I live in DFW metro now but

that is phenomenal with that price. That is super cheap! I am sure it will skyrocket after the election.

[Luminous Animal]

12. Same here in California... (n/t)

[jobycom]

7. They might, but there will be a lag.

It took a while for food prices to go up with oil prices. A lot of food is sold at advanced prices, so it will take a bit for that to run through the system. Also, some of the higher cost is for farm production--tractors, harvesters and all that stuff running on fuel. Also, purchasing arangements have shifted to more local sources to reduce shipping costs, so they will have to shift back to sources which take lower shipping prices into account. Businesses have gone under, others have rearranged their structure expecting higher fuel prices.

If lower fuel prices last, food prices will go down, eventually. Of course, if we had a responsive government that realized that, contrary to Republican belief, government can be a positive factor in business rather than a hindrance, we might have had plans in place to minimize the impact of high fuel costs on food in the first place. But Republicans have a kindergarten level understanding of economics, and Bush had even less than that, so we have what we have.

[flvegan]

10. OPEC is meeting next week. Bet they knock production down.

Prices go back up.

[ProdigalJunkMail]

14. prices won't climb much...

demand has dropped dramatically and the hedge managers have gone running...

sP

[obiwan]

13. Maybe where you live. Where I live gas is stil $3.30.

[Lil Missy]

15. gas prices will go back up after the election. Count on it.

[TiredOldMan]

20. $ 3.38 Here

East of Los Angeles I'm paying $3.38 a gallon for the cheap stuff. $2.50 sounds like a dream.

[TorchTheWitch]

22. $2.99 lowest I've seen here. n/t

[lelgt60]

23. Food prices are not just a function of gas prices...

They are a function of the prices of wheat, corn, milk, etc.

Fortunately, all of these prices have been coming down quickly over the last 6 months as well.

Wheat was about $10 per bushel 6 months ago. Now it's about $5

[Blue_In_AK]

24. Gas is $2.50 somewhere??

It's still $3.55 here.

[meow2u3]

25. Diesel fuel will have to come down in price

...for food prices to come further down. Diesel fuel powers the trucks and trains which transport the food to the grocery stores.