Gasoline Prices Likely to Fall Well into 2013

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By Trey Thoelcke Published

Gasoline pump

Gasoline prices continue to fall, which could be a small counterweight to fiscal cliff effects. The national average price of a gallon of regular dropped to $3.248 yesterday, according to AAA Fuel Gauge. That is down from $3.340 a week ago, and $3.422 a month ago. That price is virtually even with the year-ago price — before gas made its run toward the $4 level.

The retreat in oil prices should promise a sharper drop in gas prices well into 2013. Crude is just above $86, which is down from $95 three months ago. The only factor that might pressure oil up is an apparent recovery in the Chinese market, but no one knows whether that will be long-lived or is just a temporary bump.

According to Bloomberg:

A preliminary purchasing managers’ index showed manufacturing in China expanded at a faster pace this month. Syrian fighter jets bombed a Palestinian camp in Damascus, reviving concern that unrest in the Middle East may spread to oil-producing countries.

Douglas A. McIntyre

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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