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Expert: Gas Prices To Fall Below $3 A Gallon

Last updated on Sunday, October 28, 2012

(UNDATED) - Gasoline across the U.S. is cheaper after a week of rapid price declines.

Analyst Ben Brockwell with the Oil Price Information Service says we should see prices here in the Midwest fall even more.

The national average for a gallon of gas has dropped 13 cents in the past week to $3.625.

That's the biggest weekly decline since the 7-day period ended Nov. 28, 2008.

Brockwell says the price for gas could get to below 3 dollars a gallon by the holidays.

Falling oil prices, rising supplies of gasoline and a switch by refiners to cheaper winter blends of gas have contributed to lower pump prices.

But gasoline is still more expensive than it's ever been for this time of year. The previous record for Oct. 23 was last year's $3.46 per gallon.

Gasoline has averaged $3.65 so far this year, 10 cents above the record set in 2011.

Locally, at last check... the average price for a gallon of regular unleaded is at &3.36 in Bedford with the lowest at Sunoco, Lincoln Avenue and 4th Street at $3.29. Elsewhere its 3.39 in French Lick, $3.09 to $3.12 in Seymour at $3.12. The lowest in Mitchell was at $3.34 at the Marathon at Ind. 37 near Hancock Avenue, in Loogootee and Washington gas was $3.39.

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