CBS Skeptical of Lower Gas Prices

I'm beginning to think there are only two categories of news: bad and just wait, it's gonna get bad. That was certainly CBS's approach to falling gas prices on July 30

“News that gasoline prices are falling usually comes with a warning – don’t get used to it,” said “CBS Evening News” anchor Katie Couric. “So consider yourself warned as we tell you gas has fallen 17 cents the past two weeks to a nationwide average tonight of $2.88 a gallon. That is the lowest price in three months.”

That’s right, Katie. When it comes to gasoline prices and the CBS “Evening News,” they’re either high or probably going to get higher."Evening News" ignored the initial drop in gasoline prices last week.USA Today reported on July 31 that prices have declined thanks to more refinery capacity and are expected to go lower -- despite Couric's warning.

"Now, with those same refineries coming back into full swing, supplies are anticipated to be healthy, leading to lower prices at the pump," wrote Barbara Hagenbaugh for USA Today.

Pump prices are now the lowest since mid-April, according to the Los Angeles Times. The Energy Information Administration reported that gas prices are down 8.2 cents a gallon from a week ago and 12.8 cents from a year ago.

Julia A. Seymour
Julia A. Seymour
Julia A. Seymour is the Assistant Managing Editor for the MRC's Business and Media Institute.