As pump prices drop, some drivers don’t ask why and simply enjoy not having to consider the alternative.
“I have no idea, but I’m sure glad they are because I was just about ready to start walking,” said Christine St. John.
Though they enjoy the savings, others try not to get ahead of themselves, and realize what may be down the road.
Helen Herne is doubtful that the price will stay low. “It’s down, but you know that it can go up just as fast as it went down. So oh yeah, I’m very happy,” she says.
There are political, physical, and seasonal reasons for the cheaper prices, some of which we can measure. You might not know it, but gas used in the cooler months is a different blend then the gasoline used during the warm season. The winter blend saves us about five cents per gallon.
The demand for gasoline also goes way down after the summer is over. The effect on the market can save us up to ten cents per gallon.
The biggest determining factor is the price of oil. The lack of negative news from key Middle Eastern oil supplying countries has saved us money. So has the fact that the peak of hurricane season has passed us by, and off shore oil rigs have held strong.