Cheaper Gas Prices Expected by Thanksgiving


0  Updated at 10:30 am, October 22nd, 2012 By: ABC Digital
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Justin Sullivan/Getty Images(NEW YORK) — Now that the summer driving season is over, gas prices are coming down in most parts of the country and the near future looks brighter for motorists.

“I think it’s good news for folks that are traveling on Halloween but particularly good news for Thanksgiving time,” says Tom Kloza with the Oil Price Information Service.

He says gas will drop between 10 and 35 cents a gallon by Thanksgiving, and other analysts agree.

“Supply is expected to begin increasing, coupled with an expected drop in demand which we’re already seeing.  Equals lower prices,” says Patrick DeHaan, a senior petroleum analyst at  “We should see relatively smooth sailing with the national average in the low to perhaps the mid $3 a gallon range.”

The Energy Department’s weekly survey is expected to show another drop when the numbers are released later Monday.

Copyright 2012 ABC News Radio

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