Gas Prices May Drop 50 Cents

Figure an average of $3.35 next month
By John Johnson,  Newser Staff
Posted Oct 20, 2012 9:30 AM CDT
File photo of a motorist pumping gas in Michigan in August.   (AP Photo/Kalamazoo Gazette, Mark Bugnaski)

(Newser) – Expect gas prices to start falling quickly over the next few weeks, reports USA Today. The national average is about $3.72 a gallon—a record high for this time of year—but it's expected to be about $3.35 by late November, thanks to lower demand and rising inventories typical in autumn. It also helps that producers switch to cheaper winter-blend gas right about now, notes the Christian Science Monitor. Nobody will happier than residents of California, although one analyst notes that the Obama campaign is sure to be pleased, too. (Read more gas prices stories.)

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