Tags: gas | prices | dropping | gallon

Gas Prices Dropping, Could Hit as Low as $3 a Gallon, Experts Say

Tuesday, 24 Sep 2013 09:38 AM

By Alexandra Ward

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Gas prices may be dropping to $3 a gallon again, some experts believe, after prices fell 6.4 cents in the last two weeks.

The average price of a gallon of regular gas in the U.S. is down 31 cents from this time a year ago, the latest Lundberg survey from Sept. 20 shows. The industry poll included about 2,500 retail stations in the 48 contiguous states.

Urgent: Should Obamacare be Repealed? Vote Here Now

According to the survey, the cheapest gas was $3.14 in Charleston, S.C., while the most expensive pumps were in San Francisco, where drivers paid $4.01 per gallon.

Trilby Lundberg, the survey's editor, said the drop in gas prices is a result of the declining price of crude, which fluctuated because of the recent diplomatic progress in Syria and Iran, according to NBCNews.com.

GasBuddy.com, an online tool that monitors gas prices throughout the U.S., agreed.

"Supplies are adequate, and indeed gasoline now typically sells for just a few dollars more than raw crude costs. [Prices will] go below $3.00 anytime soon," GasBuddy.com's chief oil analyst Tom Kloza told NBCNews.com.

Other experts, however, say the dip is just the typical September decent.

"It’s normal for prices to fall in September," Mark Jenkins, American Automobile Association spokesman, told NBCNews.com. "The summer driving season is over, demand is down, and refineries are switching to the cheaper winter-blend gasoline. Prices could continue to fall another 5 to 10 cents before the end of the month, but it’s unlikely."

The price of a gallon of regular gas has not dropped below $3 in three years, according to AAA.

Urgent: Will Obamacare Hurt Your Wallet? Vote Here Now

Related stories:

Energy Expert Jeff Siegel: Gas Prices May Hit $8 in Next Few Years

Energy and Capital's Siegel: Gas Prices Won't Fall This Fall

High Gas Prices Bolster GOP Arsenal Against Obama  

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

FedEx Driver Shot in Memphis; Police Searching for Suspect

Friday, 19 Dec 2014 14:43 PM

A FedEx driver was shot Thursday afternoon in Memphis when someone fired a high-powered rifle into the passenger door of . . .

Michael Phelps Pleads Guilty to Drunken Driving After DUI Arrest

Friday, 19 Dec 2014 14:06 PM

Michael Phelps pleaded guilty to drunken driving on Friday, nearly three months after the Olympic gold medal swimmer was . . .

Caramel Apple Deaths, Illnesses Spreading as Officials Issue Warning

Friday, 19 Dec 2014 13:09 PM

Prepackaged caramel apples have been blamed for five deaths and more than two dozen illnesses in 10 states and now healt . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved