Although gas prices remain high, signs point to an extended downward slide.
"AAA expects that the national average is likely to be between $3.40-3.50 when American's head to the polls in just over two weeks and to be between $3.25-3.40 by Thanksgiving," according to the motorists group's Fuel Gauge Report.
Laughable. Let me help. Every autumn...gas prices decline. It's called supply-side economics. Currently (Autumn) the demand for gasoline goes down. As consumption goes down, there is a bigger supply available to the market. Therefore, the gasoline takes on a lesser value. That is reflected in the price at the pump. This happens every single year.As of Monday, the national price of a gallon of regular was $3.67, a dozen cents below the week before - the biggest weekly drop since 2008's economic woes dragged prices down from an all-time high of $4.11 in July to under $2 by year's end, according to the report.
Now...in addition to this constant, there is the fact that 23 Million less people are driving to work everyday. Less seasonal gifts will be purchased, because there is less throw-away income out there to purchase seasonal/holiday items. Less people will be driving to the store to purchase said gifts. Less commercial transportation will be required to keep stocks full. Oil futures reflect this as well.
Short story: Gasoline prices dip a little every autumn and early winter. Then, guess what happens.