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« Can the Bolt-on Blade Really Boost Gas Mileage? Green Speed Demons: Fastest Hybrids On Sale Now »

Experts predict gas prices will continue decline

October 28th, 2008

 <

By Wally Kennedy The Joblin Globe Full Article

wkennedy@joplinglobe.com

Myra Ayotte, of Joplin, drives a fuel-efficient vehicle to save money.

But as the cost of fuel plummets, she’s still being careful about the money she spends.

“I drive an economy car so I get excellent gas mileage, but gas prices still affect me,” she said. “Even though gas prices are lower, the price of everything else has gone up.

“I had planned on going out of town last week, and even with gas prices going down, we were not able to make the trip because of the prices of everything else.”

That reluctance to travel because of uncertainty over the economy is one reason why prices for fuel have fallen and could continue to fall in the months ahead.

As the cost of a gallon of regular gasoline fell to $1.97 at some local convenience stores on Monday, the question was: How much lower could it go? The answer: Nobody knows how low it will go, but it will go lower, analysts say.

John Buchanan, an analyst with the Missouri Energy Center, said, “I’m not bit a surprised by the decline in prices, but how much further it will go is really hard to predict. The answer to that is there is no bottom in sight.”  Full Article

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