What will happen with gas prices? - WAOW - Newsline 9, Wausau News, Weather, Sports

What will happen with gas prices?

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In the past week, gas prices started to drop. But uncertainty about the tensions in the Middle East and the new steps taken by the Federal Reserve to stimulate the U. S. economy are causing some concerns.

Patrick Dehaan, GasBuddy.com , Senior Petroleum Analyst says, "With the recently announced QE3, I'm a bit concerned that prices won't  moderate as much as previously expected as the dollar weakens, leading me to believe 2012 will have featured the highest yearly average ever."

GasBuddy.com shows a wide range of prices in Central Wisconsin. We saw a price posted at $4.19 a gallon from Eagle River to $3.79 in several communities, including Stevens Point and Wausau. The average in Wausau is at $3.94. Some stations have risen to $3.99.

Nationwide the average is $3.86. Last week it stood at $3.76.

Earlier price hikes were blamed on Hurricane Isaac and pipeline disruptions.

Dehaan says prices typically drop after Labor Day. While he doesn't think the drop will amount to as much as initially hoped, he believes the lowest prices will arrive from Thanksgiving until the end of 2012.

He predicts prices could hit $3.55-$3.75 a gallon.

 

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