By Jaklitsch Law Group of Jaklitsch Law Group on Monday, October 14, 2013.
Good news for cash-strapped motorists: Gasoline prices are dropping, and consumers could see prices fall to near $3 a gallon before Thanksgiving.
Experts have attributed the current decrease to the typical fall in demand as summer ends and vacation driving falls off; a quiet hurricane season that has not disrupted supplies; and refineries switching to their cheaper winter blend of fuel.
In fact, gas prices could fall to near $3 a gallon, barring unforeseen circumstances such as a late hurricane in the Gulf of Mexico or a catastrophe in the Middle East’s oil-producing region.
But do not look for gas to drop below $3. We have not seen sub-$3 gas in more than 1,000 days.
Once Thanksgiving rolls around gas prices are likely to rise again as people turn to their cars for holiday visits to friends and relatives.