Analyst: Relief From Rising Gas Prices In Sight
Published On : 10/8/2012 11:09 AM
From : CCN
Categories : Local, State
Listen to the News Story
We could see relief from rising gas prices later this week, according to an industry analyst.
One gasoline industry analyst says relief from escalating prices is in sight.
Patrick DeHaan is a Senior Petroleum Analyst with the website GasBuddy.com.
He explains that wholesale gas prices are starting to go down – a reduction that consumers will eventually see at the pumps.
“Stations that are replenishing are looking at a much lower cost than they were the day before and that will allow them to start lowering their price.”
But DeHaan says – just how low prices go will be mixed.
“It may be big drops, it may be gradual. Stations may not lower their price very quickly if their stuck with gasoline that they bought at a much higher price.”
Another factor that may bring down prices soon is Governor Jerry Brown’s decision to allow winter-blend gasoline to be sold in California earlier than usual. Winter-blend gas typically isn't sold until after October 31.