Analysts: Modest gas price drop expected this fall - FOX5 Vegas - KVVU

Analysts: Modest gas price drop expected this fall

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LAS VEGAS (FOX5) -

Motorists should see a drop in the price of gas as the calendar pushes into fall, which is something one fuel price analyst has seen in the last five years.

GasBuddy.com's Patrick DeHaan said the drop should be between 20 cents and 25 cents per gallon beginning Thursday and running through Halloween. He said recent history should serve as an indicator for the pattern.

"When we looked at prices from Sept. 19 through Oct. 31 - for a five-year period - it became clear that the numbers were skewed because of the extraordinary plunge gas prices took in 2008 when they moved from the record peak ($4.12) in July to the record low ($1.61) by year's end," DeHaan said. "In 2008 the price from Sept. 19 to Oct. 31 plummeted by $1.28 per gallon."

DeHaan cautioned, though, drivers to expect a tamer decrease this year.

Despite the forecast of a drop, Las Vegas drivers recently experienced a jump in the price of gasoline in the last week. On Thursday, the average price of gas was reported at $3.45 a gallon, which is a two-cent jump from last week, according to AAA's Fuel Gauge Report.

The current price, though, was still 28 cents cheaper than the cost a year ago.

Las Vegas' price is still below Thursday's national average of $3.49 a gallon.

"Retail gas prices during this period actually increased in four of the past 10 years," Gregg Laskoski of GasBuddy.com said. "But barring a hurricane or sudden turbulence in the Middle East, we're confident that most metro markets across the U.S. will see their prices fall in this 20-to-25 cent range."

You can view the current average price of gas in Las Vegas at fuelgaugereport.aaa.com.

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