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Economy Blamed For Drop In Lobster Price

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Oct 10, 2008 8:52 pm US/Eastern

Economy Blamed For Drop In Lobster Price

BOSTON (WBZ) ―

Click to enlarge 1 of 1: Photo by Gerard Sperry

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Seafood lovers will be thrilled to know that now might be the time to splurge on lobster.

Lobstermen are coping with high fuel and bait prices, and with the economy on the decline, lobster sales are down.

Thus, in Maine and Massachusetts, the wholesale price of lobsters has dropped 20 percent this week alone.

Many local markets are selling live lobsters for $4.75 and $5 a pound.