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GasBuddy.com’s Patrick DeHaan on the falling prices ahead of the holiday weekend.
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-- has the gas prices they came down again a little bit overnight national average coming to 367.
And diesels -- 398.
So let's bring in -- from Chicago Patrick day comment he's with the gas often don't call.
It is Patrick's job to tell everybody where is the cheapest gas in the country and he's gonna tell I was right now where is.
All -- this morning it's in South Carolina just three dollars and eleven cents a gallon while -- and all that far away from what they call it to handle on the price of regular gas it has South Carolina 311.
And falling fast as it.
While they continues to follow a few pennies every day in no way in regards to Greece one -- -- is another man's joy in in this case.
-- are certainly winning out with what's going on in in Greece it's caused the dollar to rally oil prices are coming down and gasoline prices coming down just in time.
For memorial there -- did you.
Unusual as an amended this time of year traditionally.
The price starts to creep up as we -- jump in Iraq -- and had to the beach for this year complete Edward complete reversal actually you seen this kind of thing default.
Well you know gas prices last year -- -- and mid may and prices did start to come down very gently around memorial that.
This year seems like the whole time -- has moved up among the gas prices peaked in late march early April.
And have coming down -- have been coming down some sense -- -- this is this is something a little bit new here.
Now I've just I'm looking at a price of oil here and it's getting close to breaking below ninety dollars a barrel it's a -- 1935.
In coming down fast.
So do you think that this gas price decline.
It may -- gonna speed up a little bit even as we get into the summer could that happen.
It may do that a lot of that is going to be contingent on the energy information administration's report that's coming out right now at this moment we're hopeful.
-- gasoline inventories wolf finally.
Start to increase they have not increased since February 10 -- we -- gasoline inventories are rising.
That's certainly could accelerate on the drop in gasoline president.
-- a care package that means gasoline inventories if they would -- that means we've got more in storage.
So the supply is great.
That for if demand doesn't pick up enormously the price comes down that's the theory here right.
That's the theory as long as refiners are getting their act together we've seen a lot of hot spots.
But it just now is starting to look like everything is is starting to smooth out on the refinery side.
Hopefully production has increased in this latest report which I'll be looking at shortly but you have the concept exactly right if inventories of gasoline go up.
That means supply is up.
And as long as demand remains constant one supply is up prices come down.
You got it right economics -- -- one from Patrick.
We'll have you back soon as I wanna see which gas station and -- that hasn't to handle on regular gas -- down I wanna see that and you gotta give it to a Soviet rule you gotta you have Israel will be Watson.
