Gas prices are down, experts predict the trend will continue

BATON ROUGE, LA (WAFB) - Motorists are seeing some relief at the pump. Gasoline is down 20 percent since the beginning of July, and experts predict the trend will continue.

The prices are posted and motorists are watching closely.

"I think [they're] coming down pretty good," Thomas Wagner said.

"It's about time. We've been waiting. We have a boat and we like to take it out on False River and it makes it hard," Danielle Brouillette said.

If you drive around the Capital City you'll notice regular grade gasoline prices anywhere from $3.49 to $3.29 a gallon.

AAA fuel analyst, Don Redman, said he noticed prices spiked at the beginning of July but then suddenly dropped midway through the month.

"We're down eight cents from that July high. The state average is at around $3.41. It looks like at least in the short term we can see a little price break," Redman said.

That $3.41 is a big improvement when compared to last year's statewide average which hung around the $3.52 mark.

Louisiana Agriculture and Forestry Commissioner Mike Strain said several factors are driving down the cost. For example, the United States is drilling, has more natural gas, and is finding new technology to trim the cost.

"Supply is increasing, the demand has been relatively flat and going down some so it's bringing down the price of oil," Strain said.

The price in January was $105 per barrel. That price has dropped to $98 a barrel.

The owner of Country Club Texaco, Ronnie Martin, said he hasn't seen that kind of decrease since 2008. He believes the trend will continue.

"I think you'll see them coming down. I think this week you'll see them drop down a little bit," Martin said.

That's good news for consumers who said they are already thinking of ways to cash in on their savings at the pump.

"That'll be an extra dollar I can save for something," Wagner said.

"We might decide we want to take a beach trip," Brouillette said.

Experts warn consumers to budget conservatively. They said if a hurricane threatens the Gulf of Mexico those comfortable gas prices will likely disappear.

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