Gas Prices Are Falling, But For How Long?
MINNEAPOLIS (WCCO) – Drivers have a little more money in the bank this week.
Gas is on average $3.30 a gallon. A month ago, it was 45-cents higher, and experts predicted prices would stay high.
Renae Jackson of Burnsville fills up twice a week.
“On a regular basis, we drive to school, I drive him to school, daycare, dance, soccer,” Johnson said.
For this mom who fills up twice a week, there are some signs of relief. Gail Weinholzer with AAA says the numbers prove that the crude oil supply is good.
“We’ve seen prices decline from almost $4 a gallon just after Labor Day, down to about $3.30 as of today,” Weinholzer said.
A month ago, gas was 20-cents more a gallon. A year ago, it was 43-cents more a gallon.
“There’s a lot of things that go into the equation. It’s not just a simple thing,” she said.
Weinholzer says because things have settled a bit in Syria, the oil regions are more stable. Another reason for the dip is the lack of major hurricanes in the gulf over the summer.
But Weinholzer says this is about as good as it will get.
“We may see a continued decline,” she said, “A nickel, a dime, a slight decline, I don’t anticipate a significant decline.”
But for many, it does seem like a step in the right direction.
“We can see somewhat of a difference with the gas prices, but nothing too extreme to put a dent in my wallet,” Johnson said.
Weinholzer says the federal shutdown has not affected the swing in prices.
For a breakdown of Twin Cities gas prices, click here.