Experts Say Gas Prices Falling Not Because Of Election - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Experts Say Gas Prices Falling Not Because Of Election

The price of a gallon of unleaded gas is around $3.30, that's 30 cents less than just last week.

With the election just two weeks away, could we expect prices to continue to fall and is it because of the election?

For anyone filling up, the recent steep drop in prices is welcomed.

But is an election year the reason why gas prices continue to fall, petroleum expert Patrick DeHaan says not so much.

@"You know really having not much to do with the election, I know a lot of people believe the timing is suspect, but not everybody will understand or not everybody will comprehend it," DeHaan said.

By looking at the numbers, you'd think they'd have to be related.

Over the last three election years, the price of gasoline has dropped by an average of 65 cents, but DeHaan there are multiple factors you have to look at, especially in 2008.

"Much of that was due to the recession, the collapse of wall street, the housing market collapsed, all of that is why gas prices fell so sharply and so quickly."

But with just two weeks until the election, Kristina Rivera is buying that, with prices around $3.20.

"People have to drive to vote and they just want to make sure that it's a little easier on your wallet so you get there and do it," Rivera said.

Rivera says she will enjoy the low prices for now as she expects them to go back up, something DeHaan says has historically been the case in January after an election year.

DeHaan predicts the price of gasoline to stay around $3 through Thanksgiving and Christmas.

 

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