After gas costs hit a yearly high recently, drivers could at long last see some help at the pumps.
“If you don’t need gas, wait!, Patrick De Haan, GasBuddy’s head of petroleum analysis, tweeted Friday, as oil prices continued trending down.
The cost of oil is 10% lower than it was not so much as about fourteen days prior, De Haan told Nexstar. He anticipates that the trend to continue for at least a couple of weeks.
Starting at Friday evening, the normal cost of gas at the siphon was $3.41, down only somewhat from the most noteworthy year-to-date cost of $3.44 seen Nov. 10. De Haan said he is confident that the value won’t hit those significant levels again before the year’s end.
“We have conceivably now seen the top in price,” he said.
One probably factor affecting the cost at the siphon could be the rising COVID-19 cases in Europe that have prompted more lockdowns, De Haan said, noticing that when a lot of individuals are on lockdown, the interest for fuel greatly decreases.
He also highlighted President Joe Biden’s proceeded with discusses opening the Strategic Petroleum Reserve conceivably influencing the oil markets.
As per De Haan, there are such a large number of elements to pinpoint a definite reason for the decrease; be that as it may, he said one thing is certain: “oil is clearly struggling.”
In the event that current oil costs hold or keep on going down, De Haan said he anticipates that the decrease at the pump should acquire energy in the following 2 to 5 days, with prices going down somewhere in the range of 15 to 30 cents per gallon.
De Haan said he doesn’t expect Thanksgiving travel having any impact on prices.