Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

Gas Prices Could Keep Falling

August 31, 2006

Gasoline prices are falling fast and could keep dropping for months, USA Today reports.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. Fred Rozell, gasoline analyst at the Oil Price Information Service (OPIS), predicts that prices per gallon will be closer to $2 than $3 by Thanksgiving but could go up again next spring.The U.S. average for a gallon of regular peaked this year at $3.036 Aug. 10, according to OPIS/AAA daily surveys. That's slightly under the high of $3.057 Sept. 5, a week after Hurricane Katrina battered petroleum production in the Gulf of Mexico and caused fears of fuel shortages. Reduced demand for gasoline at the end of a busy summer driving season, falling wholesale prices and petroleum traders selling their holdings are all contributing factors in the fall in prices, according to USA Today.
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