Expect gas prices to fall below $3

Is it possible the average price at the pump could be below $3 a gallon by the time leaves begin to change?

Absolutely, according to experts who follow fuel price trends, and some areas of Georgia have already broken the barrier. At one station in Macon on Friday, unleaded regular was selling for $2.90, and in Duluth and Suwanee prices were as low as $3.04 and $3.05, respectively.

Higher oil production, an existing ample supply of fuel, falling crude oil prices, lukewarm consumer demand and a drop in contracts for wholesale delivery of fuel to gas stations in the fall are the right ingredients for a further drop in gas prices.

Barring any unforeseen calamity that might disrupt production or distribution, such as a hurricane that would interrupt delivery from the Gulf of Mexico or block tankers from arriving in Savannah, or a major conflict in the Middle East, the price trend should continue, even with the arrival of summer and more vehicles on the road for vacations.

MORE:  Expect gas prices to fall below $3 | The Biz Beat.