Gas Prices Continue to Fall through Holidays
The statewide average price for a gallon of regular gasoline continues it’s descent as it currently sits at $2.10 per gallon. It’s just over a 30 cent drop from this time last month, and the lowest price since last December. AAA fuel analyst Don Redman said it is a welcomed trend with the holidays.
"I've seen some as low as $1.80 per gallon. But certainly, if you see those bargains, I'd grab them. It certainly gives us more money to celebrate the holidays." said Redman
Redman says one of the contributing factors is a steep decline in the barrel price for crude oil.
"Crude oil at one point had gotten as high as $70 a barrel and then got to $50 dollars a barrel and that's what's driving those prices downward," said Redman.
Redman said late last week, some oil-producing countries have agreed to cut back on production by about a million barrels a day. Redman expects that may impact prices next spring.
"For right now, I think we'll be in good shape and seeing these lowering prices continue into February," said Redman.