Analyst: 2012 Poised To Set Record For Highest Gas Prices
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ST. LOUIS (KMOX) - Gas prices around the St. Louis region eased a bit Tuesday, but a fuel industry analyst says they’re not dropping as quickly as expected.
Patrick DeHaan, senior petroleum analyst for the price-tracking website GasBuddy.com, tells KMOX News that the end of the summer driving season coupled with the switch over to a winter fuel mix normally means lower prices.
“But with jitters in the Mideast I’m concerned that, along with a new quantitive easing program, there’s just a lot on my mind here at this point,” DeHaan explains. “I’d love to forecast lower prices but there’s just so much going on that may not allow prices to decrease as much as we had expected.”
As of Monday gas prices in St. Louis were 50.8 cents per gallon higher than the same day one year ago and 12.6 cents higher than a month ago, with an average of $3.78 per gallon.
DeHaan cautiously predicts that by Thanksgiving the average price for regular unleaded in St. Louis could drop back down to around $3.50 per gallon, but says the overall picture for 2012 appears to be heading for record territory and will end up posting the highest yearly average ever.