Economic Concerns Expected to Drive Gas Prices Lower

(Undated) – The drop in the stock market could be “good news” for drivers. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, with oil prices plummeting due to new concerns over the U.S. economy, gasoline prices have seen downside in many states, with the potential for more to join that trend. He says diesel prices have also continued to drop, and while Tropical Storm Debby drops buckets of rain on Florida and the Southeast, it poses a low risk to refineries or refined product pipelines, so the storm is not a major concern. However, De Haan says with the Middle East on alert after Israel’s attacks on Hamas and Hezbollah, there could be an impact on oil prices. The current national average is $3.50 a gallon.