The gasoline prices across the nation have been dropping for some time now. The real question is how low can these gasoline prices actually drop. How low can gasoline prices go and for how long? Over labor day weekend the national average for gasoline prices was $2.44. This is the lowest gasoline prices have ever been since 2004 over labor day. Keep reading to find out more.
How low can gasoline prices go? Well, AAA might have the answer. According to AAA the gasoline prices should drop below $2 during the winter holidays. So what’s even with the drop in gasoline cost. What could have caused all this? Well the reduction in crude oil cost and a greater supply of petroleum definitely have something to do with it. According to AAA gasoline prices have steadily dropped since hitting a peak of $2.80 in June 2015.
Senior Petroleum Analyst Predictions
According to Patrick DeHaan, who is a senior petroleum analyst, the gasoline prices will not stay below $2 for very long. The national average of gasoline prices could remain that way for three months if we are lucky. The gasoline cost should be lowest between December and early February. If you wish to check my out the source I’ve gotten all the information from so far about gasoline prices, check this site out. http://bit.ly/1SyOxRD
Gas Prices At Their Lowest
According to a Survey from back in Jan. 9 The average for gasoline prices was at $2.20. That’s down $1.44 from last year. It’s been dropping since then. According to Carl Larry, an energy consultant at market research firm Frost & Sullivan, the gasoline prices will go as low as $1.75. Gasoline prices have plummeted because crude oil cost have plummeted. So naturally the gasoline prices will go down.
The Law Of Supply And Demand
The low gasoline prices have are increasing demand. This convinces people to go out and drive more. Also, the sales of of large, less gasoline efficient vehicles, have been rising. This again will increase the demand. The US has nearly doubled its production of crude oil.
Saving money is a great idea – especially with the upcoming holidays and the new year. Start by planning a family budget. So first give this article a quick comment/share and then jump over to our budgeting module for budget planning tips and files.
Also, with the unemployment rate decreasing means that more people will be driving to work. Daily finance report that low gasoline prices could also tempt politicians to raise gasoline taxes as a revenue boost. Larry thinks that the combination of increasing demand and the additional taxes will make it unlikely for gasoline prices to drop below $1.75 because at this point a floor with have been made for consumer expectations.
It’s already getting close. In a nationwide survey, Forbes found that Dec. 15, 2014 one Ohio station had gasoline prices at $1.85. The resource used for this section so far since the last come from this website. http://aol.it/1Ozrsz8
According to a post on usnews.com back from Aug. 26, 2015 the cost for a barrel of crude oil was $32 to $35. Also, the problems china has been having might push crude oil as low as $30. This causes the gasoline prices to drop. It was also said that gasoline prices might fall below $2.00 before Christmas. Here’s the post. http://bit.ly/1i2PSDW
$2 a gallon
According to Tom Kloza, chief oil analyst for the Oil Price Information Service, which tracks prices for AAA, says that tens of thousands of stations will have gasoline prices below $2.00.
Oil is being pushed lower by concerns with China’s economic growth, output from North America and the Middle East, also there is the tentative nuclear deal with Iran, which could bring more oil to the market. This will naturally lower gasoline prices. You can find the source for gasoline price information here. http://cnnmon.ie/1L4lw0g
So Pretty Low
So how low will gasoline prices go? From the information I have gathered. The gasoline prices should drop pretty low. The gasoline prices should drop below $2.00 this winter holiday season and stay that way far at least two months.
If we are lucky, the gasoline prices should stay that way for three months. Also, the floor for how low the gasoline prices can really get is $1.75. I pulled from several reputable sources to get this information about gasoline prices. Several of them said that gasoline prices should drop below $2.00 by Christmas.
For all you late gift buyers. You are in luck. There are many reasons far the low prices that add up to make the gasoline prices what they are. Some of which are low crude oil cost and problems with China’s economy. These push gasoline prices down. This is good for the consumer. Well that wraps up this question.
If you like what you read here about gasoline prices, share it with your all your friends and family on Facebook and Twitter. They need to know about this so that they can benefit from the holiday gift of low gasoline prices.