GasBuddy.com Analyst Predicts Gas Prices Are the Lowest Since 2008, Continue to Drop
There’s nothing new at the gas pump this week as prices continue to decline with Christmas approaching. GasBuddy.com Analyst Will Spear predicts the U.S. is going to end the year with the lowest gas prices since 2008.
"Although it's still above the national average slightly, prices are still trying to catch up," Spear said. "Week on week now, we're down six cents for gas prices in Montana. You can expect to pay $2.16 where that national average is right there next to $2.00 at $2.01."
Spear said there is simply too much crude oil out there for gas prices not to decline.
"10 days ago with the OPEC meeting, it really kind of set the stage for what the early part of next year is going to be. OPEC came out and said they are only going to just slightly raise their production ceiling," Spear said. "With that, there's still going to be a lot of crude oil around with cheap gas prices. For Montana, we're expecting to see gas prices continue to fall until the end of February."
Spear said gas prices should remain near $2.00 per gallon by the end of the year.