Motorists can expect extra cash in their pocket this holiday season as gas prices continue to fall. Petroleum analyst Patrick DeHaan says because of the small demand for gasoline, he expects gas prices to fall close to two dollars per gallon by the end of the year.
“…the holdup at this point, from delivering the oil and turning it into gasoline, is at the refining level. This is the time of year, the autumn, that refiners generally slow down production and carry out maintenance now that gasoline demand is beginning to drop.”
DeHaan says the average price of gas has fallen nearly seven cents per gallon in the past week, and is nearly 84 cents lower than this time last year. He says motorists may see a small spike in price because of the recent increase in oil price, but expects gas prices fall as the holiday season approaches.
