The price for a gallon of gas IS going down—down about a dollar since topping out in June at $4.56-a-gallon. Whether it drops below $3-a-gallon is anybody's guess.
We asked the Triple-A's Don Redman if we could see gas fall below $3-a-gallon before too long.
"Right now it still has a ways to go, we're looking at a statewide average of $3.57-a-gallon," Redman says. "We're certainly forecasting the price will continue to drop in the coming weeks."
Redman says he doesn't know if the price will drop below $3-a-gallon.
"That certainly is a possibility. This time last year, we were at $2.84-a-gallon statewide. And right now we're about a dollar cheaper than we were in June when we set a new record of about 4.56-a-gallon."
But, certain discount stations are selling gas below the $3.57 mark in the New Orleans area all ready.
Gas prices are coming down, why?
"What we have seen, what's driving those prices of gasoline down right now is a decrease in the price of crude, we're looking at crude about $92-a-barrel, and also a sharp drop in demand for gasoline."
A sharp drop in the demand for gasoline? You mean, we're using less of the stuff? Yes.
"88% of those surveyed say they have cut back on their driving—that's the number one thing they started doing to try and save money," Redman explains. "They cut back on their driving, they started combining errands into as few trips as possible, and they cut back on shopping and dining.
Lets hope the trend continues and give yourself a round of applause for cutting back on driving and contributing to conservation.
