Expert: Gas Prices To Stay Below $2.25 A Gallon For Next Two Years
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WYLIE (CBS11) - At $1.64 for a gallon of regular unleaded, gas prices in North Texas are the lowest in six years.
Sandy Genovese of Fairview says, "It makes Christmas even better."
Drivers like Lameshia Crawford calls it a Christmas gift that's helped her save big money filling up her Suburban. "I can fill it up for about $40 now."
She says it used to cost her $85.
Dee Wilson says the savings at the pump mean she can splurge a little for the holidays. "You get to spend more on Christmas gifts, you can spend more on food for the family, it's great."
Bernard Weinstein is a professor at SMU's Maguire Energy Institute. "The world is drowning in oil."
He says because of the glut of oil, gas will remain cheap. "I'd say for the next couple of years, I'd be very surprised to see prices go over $2.25 a gallon. I don't see oil getting back to $100 per barrel or gasoline going over $3.00 a gallon in four or five years."
There are still going to be small fluctuations in gas prices because oil is a commodity priced on the global market.
Another professor at the Institute, Bruce Bullock predicts gas may still drop an additional ten to 15 cents a gallon.
Sandy Genovese says she's saving even more money now after buying a fuel-sipping hybrid when gas prices were $4 dollars a gallon. "You got to love it, that's for sure."
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