The Dispatch wrote Gas expected to dip below $3 a gallon
Tuesday, October 7, 2008
BY DAN GEARINO
Gasoline prices are dropping across Ohio and analysts say the downward trend will continue past $3 per gallon, a level that drivers haven’t seen since February. “We’re going to get below $3, maybe $2.80 or $2.90,” said Jim Ritterbusch, president of energy consultants Ritterbusch and Associates.
The average price today in Columbus was $3.21 a gallon for regular unleaded, according to Gaspricewatch.com, though some stations are already selling gas near the $3 mark.
Prices are returning to the trend that was in place before hurricanes Gustav and Ike disrupted Gulf Coast oil refineries last month. The interruption of refining, and the resulting fuel shortages, led to a temporary price spike, hitting a mid-September average of $3.99.
Ritterbusch expects low prices to gradually lead to a boost in fuel usage. He thinks the level of the increase will be one of the key variables that will affect prices next year. All of a sudden, “we could all be looking to buy SUVs again,” he said.
Related Stories: