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Gas Prices Expected To Drop

Last updated on Tuesday, August 30, 2011

(UNDATED) - A recent Lundberg survey says gas prices are expected to drop because of falling demand but one expert says the demand will start going back up soon.

Greg Laskoski, senior petroleum analyst with Gasbuddy.com, says the fall in demand has been largely on the east coast because of hurricane Irene. He says despite that drop, they expect demand to increase again during Labor Day weekend, except in the northeast.

The survey says gas prices could drop are likely to drop for the next two weeks. Still, in Indianapolis and other parts of the Midwest, gas prices are relatively high. The survey listed Indianapolis at an average price of $3.75 per gallon. Laskoski says prices are usually higher than normal in the Midwest. Chicago had the highest average price at $4.02 per gallon.

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