New week, prices should still fall

It looks like speculators are getting the boot when it comes to gas and oil. As of this morning they continue to fall as more bearish fundamentals are being used to control the market. What this means for you is even lower prices in gasoline.

Currently the average price of gas is beginning to catch up to wholesale, which has dropped more than 30 cents since it’s high on June 30th. Margins are at about 10 cents, from a high of 25 cents last week as prices have dropped 20 cents since July 2nd.

If wholesale were to flatten out now, we could see our prices level out in the low $2.30s. But the forecast is for wholesale to drop even further. Widespread $2.20s could greet the end of the week, and the near future could give us some stations into the $2 teens.

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