(NAFB) For the past several weeks and even several months, oil prices have held fairly steady, remaining in the mid-$60 per barrel range. But, thanks to OPEC’s increased production, that trend is no more.
“Many big banks had predicted that oil prices could come tumbling down in the last quarter of the year, and at least so far, that’s really been what we’ve been watching, oil prices are now below that critical $60 barrel mark for now.”
Patrick DeHaan is the senior petroleum analyst with Gasbuddy.com. He said that as oil prices drop, so do fuel prices, and that’s a trend he expects to continue for a while…tape
“Motorists could get a little excited at the prospect of seeing gas prices continuing to fall nationally. The national average is down nine cents from last week. It stands just two cents from falling below that $3 a gallon mark, something that we haven’t seen on a weekly basis, really, since the pandemic. So, by all metrics, oil prices are falling, gasoline prices are falling, and diesel prices are falling. Of course, this coincides with the time of year when this usually happens in the fall. Prices do tend to fall.”
Again, Patrick DeHaan is with GasBuddy.com.
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Audio provided by Glenn Vaagen, PNW Ag Network, Pasco, Washington
Audio with Patrick DeHaan, senior petroleum analyst for GasBuddy.com
