“We’ve got very healthy inventories, supplies of gasoline; and that’s really pushing those prices down. As well as, we’ve seen the price of crude-that just a month ago was selling for about $95 a barrel-down to about $85 a barrel,” he explained.
On average right now you are paying $3.38 a gallon for the cheap grade. Redmon said that price is expected to continue to fall. “And it’s very possible that we are going to see several markets throughout the state, by the time we get into November, at or below $3 a gallon.”
The flip side of that coin, Redmon said cheaper gas prices are an indicator that the overall economy is struggling.