You might call it one of the drumbeats of the fall.
Prices are clearly falling at gas pumps around the Alamo City–by nearly two-cents per gallon to start the first full week after Labor Day. The experts said it’s a trend being seen in many other parts of the country as well.
“That’s a bit of a surprise given that last week inventories saw their largest single-week decrease ever” Gasbuddy dot-com’s Patrick DeHaan told KTSA News.
In fact, DeHaan said the falling prices could pick up even more momentum before too long.
“That decrease could be enhanced later this week when much oft he country transitions back to winter gasoline. That should hold a bit of a decrease that we should see over the next week” DeHaan said, adding the declining trend is likely to stick with us for a while–even with some chatter swirling around OPEC about a potential production cut.
“We’ve heard ramblings and rumors that Russia is talking to OPEC–and, even Iran suggesting that now that they’ve boosted output… they may be willing to come to the table and discuss this as well” DeHaan said.
For now, it seems the markets don’t know what to make of such talk–with crude prices beginning the week with a slide.