Gas prices to take drop soon

In this Wednesday, June 4, 2014 photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Violence in Iraq is pushing U.S. gasoline prices higher during a time of year they usually decline. The national average price of $3.67 per gallon is the highest price for this time of year since 2008, the year gasoline hit its all-time high. (AP Photo/Wilfredo Lee)
In this Wednesday, June 4, 2014 photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Violence in Iraq is pushing U.S. gasoline prices higher during a time of year they usually decline. The national average price of $3.67 per gallon is the highest price for this time of year since 2008, the year gasoline hit its all-time high. (AP Photo/Wilfredo Lee)

YOUNGSTOWN, Ohio (WKBN) – Gas prices are expected to fall 10 to 20 cents per gallon over the next few weeks.

According to GasBuddy, the U.S. average for a gallon of gasoline as has fallen below $3.60 for the first time since April 2014. Prices have dropped 5 cents a gallon in just the past week.

“West Texas Intermediate crude, the benchmark for the U.S., traded below $100 per barrel today for the first time since April, reflecting a slow but steady decline in recent weeks,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.  “Over the same period, we’ve seen wholesale crude prices across the country slip dramatically.  West Coast wholesale prices have fallen by more than 35 cents per gallon since the beginning of the month, and across the rest of the country wholesale prices have fallen by 15 to 20 cents per gallon.”

West coast customers are expected to see a 15 to 25 cent drop.

blog comments powered by Disqus