Gas Prices at Two-Year-Low in Dec 2012, Will it Last?
Gas prices have dropped again and are now at two-year-low in December 2012 in the US.
Lundberg reported that the average price nationwide for a gallon of regular over the two weeks that ended on December 21 dropped to $3.25.
Gasoline prices traditionally drop to their lowest amounts of the year from November through January because of decreased demand, an SCPR report reveals.
Will they stay low?
The Arizona Republic cites Patrick DeHaan, an analyst with Chicago-based GasBuddy, which helps motorists compare fuel prices, said he expects the declines to continue for a few more weeks before they level off.
Most likely, gas prices will begin to rise by mid-January, he said.
"The wholesale price of gas is up across the board, and (retailers') margins are going to drop substantially," DeHaan said. "It may take a week or two before we see the average go up, but prices will not be substantially lower than where they are now."
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