Gasoline Prices Falling??? Could be close to $2.00 by Thanksgiving … Just in Time For Midterm Elections

Then suddenly from out of nowhere gasoline prices have fallen. I actually almost got into an accident when I spotted a sign with gas prices at $2.65. Its is true, gasoline prices are falling fast and could keep dropping for months.

“The only place they have to go is down,” says Fred Rozell, gasoline analyst at the Oil Price Information Service (OPIS). “We’ll be closer to $2 than $3 come Thanksgiving.”

Travel organization AAA foresees prices 10 cents a gallon lower by the end of next week. It reported a nationwide average of $2.84 Tuesday, the lowest since April 20.

State by state gas average prices from AAA

So what is behind the current drop in gas prices?

The end of summer
Sluggish demand
Petroleum traders, worried that prices are too high to last, are selling their holdings

We certainly agree with the Red State blog that the fall of gas prices right in time for the midterm elections are a benefit to the Republican Party. Seeing that it has been GWB’s fault according to a certain party as to their record increased prices. Of course we all know that it is not a supply and demand; it must be a Rovian conspiracy.

Check out The Moderate Voice, they have the perfect gas price sign for what has been going on recently.