Eventually, experts hope the prices will fall to reflect the state average of $3.76 a gallon, which despite being more than a quarter cheaper than what is being seen in the Inland Empire is still more than a dollar greater than the national average of $2.65 a gallon. “The statewide average may even get down to under $2 shortly thereafter”. There are several factors that drive down the price after Labor Day.
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“Look for the big declines to come in the fall and by Christmas we could be talking about stations selling under $2.00”, said Patrick DeHaan, a petroleum analyst for the website.
Since Alabama is already about 40 cents below the national average, it stands to reason that prices could dip much lower here.
Contributing to the positive forecast are regional, national and global supply-and-demand fundamentals that continue to place more downward pressure on crude oil prices than upward pressure, and that trend is expected to continue well into 2016, GasBuddy said.
Prices in the Bradenton-Sarasota-Venice market dropped about 8 cents in the past week, bringing the local average for a gallon of regular down to about $2.52 on Friday.
“As motorists wrap up their summer vacation road trips, demand for gasoline slips in autumn and winter”, said Will Speer, a senior analyst with GasBuddy.
Gasoline prices could slip below $2 a gallon in many states, including South Carolina, by Christmas, according to a new outlook.
They believe a switch to a cheaper winter grade gas coming soon, means a large supply of discounted gas for drivers. “Prices drop very quickly in Ohio only to reset in the middle ground, so I wouldn’t be surprised if some areas in Ohio jump back up to $2.50 or $2.60 a gallon”.
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