How many of us were feeling a bit more positive now that it didn’t take $45 to fill up? Well, gas prices have hit their lowest point since late spring. But don’t get complacent. Analysts say higher crude oil prices and increasing demand could make gas more expensive again. Here’s the story from Jason Lopez of PodTech News.
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December 5, 2005 (PodTech News) – The price at the pump dropped about 11 cents a gallon over the past two weeks, according the latest Lundberg Survey of about 7,000 filling stations nationwide. The cost for a gallon of self-serve regular unleaded gas was $2.13. That price is down about 88 cents from the high of $3.01 — the national average back in early September after Hurricane Katrina. Over the past several weeks much of the capacity that was damaged by Hurricanes Katrina and Rita has been restored. As prices have fallen, demand has been restored too. Analyst Trilby Lundberg says that when higher crude oil prices are added to the scenario, the result could be the end of declines and the possibility of price increases.