You’re seeing gas prices continue to drop. The average in Indiana Monday morning was $3.86 per gallon. But, some experts believe you may be about to see that drop slowing down or stopping.
“Oil prices made a partial recovery after an important decline and wholesale gasoline turned upward in the past few days,” said Trilby Lundberg with the Lundberg Survey. “This may indicate that the drop in gasoline, which has been very dramatic, may be coming to an end.”
Gasbuddy analyst Patrick DeHaan agrees with that assessment.
“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,” said De Haan, head of petroleum analysis at GasBuddy.
“That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better than expected jobs report last week likely means less demand destruction than anticipated.”
While Indiana’s average is down about a dime from this time last week, the average price in the South Bend area is $3.80.