Nationwide Prices at the Pump Keeps Falling

From coast to coast, current gasoline prices reflect a deep fall and they are anticipated to move even lower.

Both buyers and sellers of retail gasoline agree in their hopes for gasoline prices to keep on falling. Customers say that they try to save as much as they can from the price of gasoline.

When gasoline prices begin to fall, customers easily notice.

Luckily, gasoline prices are falling nationwide, said experts. For example, Wisconsin’s average gasoline price today is $3.46 per gallon. That rate is lower by almost 15 cents versus the nationwide average and by 40 cents compared to a month ago.

Some believe that prices are improving. However, they also think that it can still get better because people need cheaper prices at the pump. The fall reflected in the current gasoline price is quite a bit later than usual, but is finally beginning to make up for lost time.

The fall in gasoline prices usually begins in the latter parts of September and is usually much slower, maybe by a cent every few days. The drop in gasoline prices today is much faster, probably because it started so much later than most petroleum experts had anticipated.

Owners of gasoline stations say they are hoping for prices to fall further. When prices are high, they tend to narrow their profit margins in order to avoid turning away customers due to “sticker shock.” It is still costly for customers, but at least prices are still going in the positive direction, said BP Onwer Keith Rybacki.

It is doubtful that Wisconsin’s gasoline prices will drop below $3, said experts. And with the holidays getting nearer, prices are anticipated to increase again. In fact, some small rises may occur around the New Year and a major one is about to come in the spring of next year.

However, many customers have expressed their intentions to enjoy the cheaper prices for as long as possible.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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