Gas Prices Falling–but for How Long?

The week after Thanksgiving begins with prices falling at San Antonio gas pumps–and questions about just how long that trend might continue.

One ominous sign just might be what has been a “bouncing around” of prices on the global crude oil market in recent days.

“It looks as if what’s driving the ebb and flow in crude right now is concern about exactly what’s going to come out of the OPEC discussion on Wednesday” Gasbuddy dot-com’s Gregg Laskoski told KTSA News, pointing to a long-awaited possible vote on a plan for cutting crude oil production.

“There’s an awful lot of folks who think there could be an agreement to cut production–and, there are just as many people–possibly more–who remain skeptical” Laskoski added.

While a production cut agreement might put some temporary upward pressure on prices, Laskoski isn’t convinced such a move will have an immediate, lasting impact on pump prices.

“A production cut would not alter the fact that the current global inventory (of crude oil) remains high” Laskoski said.

And, Laskoski said there are some realities that have come with the calendar in recent years.

“The average movement has been a decline of 15-cents per gallon from December 1st to December 31st” Laskoski said.


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