Friday, May 6, 2011

Oil prices fall, gas prices might drop next week

It certainly seems that gas prices go up faster than they go down. Thursday saw the price of a barrel of oil fall by 10 percent to just under $100.  Market analysts have stated that the oil market is correcting itself after being overpriced since last year. Experts say that the price of fuel at the pump will probably take a few days to reflect the new, lower oil prices. It could possible be early next week before we see prices edge down a bit. It would be nice if the drop in gas prices would match the 10 % drop in oil.  In Laredo, that would translate into a gallon of gas going from around $3.79 to about $3.42. At this point, we'll take any break we can get.

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