Gas prices dip below $2 in Boston

November 14, 2008 03:18 PM Email| Comments (3)| Text size – +

Samia Letaief, Reginald Ellis, and Edward Baez were happy with the gas prices today at Hatoff's in Jamaica Plain.

By Martin Finucane, Globe Staff

Yes, you can believe your eyes. Gas prices under $2 per gallon have arrived in Boston.

Customers at Hatoff’s on Washington Street in Jamaica Plain welcomed the station’s price of $1.99.9 this afternoon.

“It really feels good,” said Marc Millien, 31, of Dorchester. “It’s a big surprise. ... I hope it goes down more.”

“It’s been forever,” said Samia Letaief, 46, of Hyde Park. “It really has.”

Gas prices around the state have been dropping down to just above $2 a gallon, according to www.massachusettsgasprices.com. And dozens of stations -- many in the southeastern portion of the state -- have begun offering gas below $2.

Stations in Brockton, Taunton, and Whitman, as well as North Andover are offering gas today for as low as $1.93 per gallon, according to the website.

In Boston, the website lists Hatoff’s and stations in Dorchester, Brighton, and West Roxbury as dropping below that magical $2 mark.

The prices are a far cry from the average high of $4.09 for the Boston area recorded in July by AAA of Southern New England.

The dropping prices come at a good time, people at Hatoff’s said, with the economy in turmoil.

“I’m unemployed right now,” said Reginald Ellis, 51, of Boston. “So this is really good.”

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3 comments so far...

Its great to see the prices under $2.00 but how long will it last? When the market turns around it will be back to $3.30!

Posted by chris November 14, 08 03:29 PM

Be careful what you wish for. As long as gas prices continue to fall, the stock market and home values will continue to fall. So, you might save an extra $10 to fill up your tank, but having your retirement account or home go down another 20, 30,40% isn't going to make people too happy.

And low oil and gas prices just discourage exploration and the development of alternative fuels. So after this bout of asset deflation runs it's course and inflation flares up again, we will be wishing gas was only $4 a gallon.

Posted by John November 14, 08 04:09 PM

Not a bad sentiment, John, but the money that is getting saved now at the pump since the $4 high can be put back into the stock market at it's low and as long as people are patient and ride out the bottom of this cycle, they won't be worse for the wear.

Posted by Rick November 16, 08 12:18 AM