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Pittsburgh Area Gas Prices Continue To Fall

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Dec 8, 2008 9:36 pm US/Eastern

Pittsburgh Area Gas Prices Continue To Fall

PITTSBURGH (KDKA) ― Drivers are enjoying paying less than $2 a gallon for gasoline these days.

But some people are wondering how low gas prices are going to go. Experts say they're not sure when prices will bottom out.

"Retail prices have dropped an average of almost three cents a day for 80 straight days," says Ben Brockwell, director of data and pricing services at the Oil Price Information Service, in Washington, D.C. "That's incredible, it's unprecedented."

Brockwell doubts even OPEC's threat of a cutback in production later this month will have a major effect.

"Until they do that, and or until demand starts to kick back up because of lower prices, I don't think anybody can honestly predict …. where the bottom of this market is," he said.

Brockwell is not ready to jump on the dollar a gallon prediction, but he thinks that oil can make it into the mid-$30 a barrel range before it rebounds.

"A drop that much could certainly put, put the retail market in some places in the U.S. near the dollar a gallon level which would be an astounding turnaround," he said.

The average price for a gallon of regular unleaded in the Pittsburgh area was $1.90, according to AAA. 

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