gasoline prices predictions september 2011

gasoline prices predictions september 2011 ; Political uprisings in Libya have caused oil prices to drop in recent days, and Louisiana drivers may see a benefit from the overthrow of Muammar Gadhafi. A goal of the rebel forces in Libya is to restart production in the country's oil fields. With more oil in the market, prices should be driven down. But Gamson said that the effects of Libyan oil production won't be seen in the near future.

The slowing national economy may have a silver lining for drivers: cheaper gasoline prices. The price of unleaded gasoline in the metro New Orleans area has fallen about 20 cents over the past month to $3.413 a gallon Friday, and the price is expected to keep sliding.

Any time there's disruption in an oil-producing region, it takes quite a while for the infrastructure to recover. We won't see the effects immediately.

gasoline prices will drop 10 cents in September from the current national average of $3.64 per gallon. In October, drivers could see prices drop another 8 cents per gallon.

Other factors could also play into the price of gasoline in the coming weeks., significant economic downturn to get gas prices back down to the mid-$2 range. Consumers likely won't see the full effects of the most recent drops at the pump for another two weeks.

Sixty-five percent of the cost of a gallon of gasoline is influenced by the price that a barrel of oil trades for on Wall Street. The other 35 percent, Smith said, is comprised of marketing and refining costs and taxes.

While there are occasionally immediate drops in gasoline prices, there is almost always a two-week lag between a dip in the price of oil and a decline in gas prices at the pump.

The Southern and middle regions of the U.S. generally see lower gasoline prices than the eastern United States, a trend that Gamson expects to continue. The Northeast imports its oil from overseas. But Midwestern and Southern states primarily use gasoline produced from oil that is found and refined in and around the United States.

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