NOLA Gas Prices Continue to Fall

Gas prices just keep dropping.  Across the metro area, at least fifteen gas stations are selling a gallon of regular for less than three dollars.  And prices are expected to continue falling.

 

Ryan Quick of Metairie is smiling as he pumps gas at the Chevron on Airline and Cleary.  He had just dropped his kids off at school when he spotted the sign saying “Regular–$2.99″  He ducked in for a quick fill-up.

 

“Saw this good price and said ‘Hey, why not?'” as he topped of his tank.

 

Last spring, oil analysts warned we would never see gas below three dollars a gallon again.  Right now, it’s easy to find more than a dozen gas stations in the New Orleans area with prices lower than three bucks.

But why the continuing drop?  U.S. production is up sharply and is still climbing, plus the sluggish global economy has suppressed demand.  And a federal report out Monday says we can expect gas prices to continue to drop at least through the end of this year.  And that’s good news if you plan on driving to see Grandma over the holidays.