Green Bay gas prices drop 5 cents

Nationally, prices were down 5.4 cents to $2.60 per gallon over the same period, according to GasBuddy’s surveys.

Gas prices are down, and they are about to fall even further – perhaps to less than $2 a gallon in some areas. At the close of Friday’s formal trading on the NYMEX, WTI settled down 79 cents at $43.87 per barrel, which was a five-month low.

A market spike on the West Coast had impact on average prices earlier this summer, but did not bring average prices close to what they were a year ago.

Conflict in the Middle East, a disruption to U.S. drilling or a refinery outage could always push up oil prices, thus reducing the chances that gasoline will fall as predicted. Spokeswoman Connie Nelson said if a tourist is visiting Wilmington from Raleigh, gas prices generally don’t make or break his decision to travel.

The price of gas has dropped to $2.22 in Alabama, $2.24 in Mississippi and $2.20 in South Carolina, according to the AAA Fuel Gauge.

Allison Mac, a petroleum analyst with Gasbuddy.com analyst said “We are about 40 cents per gallon cheaper than where we were past year in LA”. Local oil exploration and production is down 600 jobs over the year, its sixth consecutive month with an over-the-year loss, state figures show.

The price at the pump continues to drop as oil prices also plunged in recent days. More than three in four consumers (77%) say that gas prices affect their feelings about the economy. That price has dropped by almost 70 cents since last month.

“Obviously things are going much more smoothly”, Automobile Club of Southern California spokeswoman Marie Montgomery said Monday.