Gas Prices Continue to Fall as Demand Slows

(Undated) — Gas prices have fallen, and GasBuddy Head of Petroleum Analysis, Patrick De Haan, says the election had little to do with it. De Haan says many will assume the election had something to do with it, but that’s a myth. Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal. He says refiners finish maintenance and ramp up output just as demand fades with cooler weather. Those same forces, along with more oil moving through the Strait of Hormuz, are why prices could stay below $4 in the weeks ahead. However, De Haan says the election’s outcome may send a message to Washington to sharpen its focus on affordability, and he’d expect even more attention on bringing prices down. But for now, it’s the seasonal shift, not politics, driving the relief at the pump. The current national average is $3.97 a gallon.