Gas prices are on their way down, but will the slide last?

POSTED: Sunday, October 28, 2012 - 9:00am

UPDATED: Sunday, October 28, 2012 - 9:04am

The pain at the pump has been easing a bit over the last few days.

The price of gas has dropped 12 cents per gallon nationwide in just the last week.

"That is the largest weekly decline we have seen since 2008," notes AAA's Avery Ash.

Still, the national average for a gallon of unleaded is still $3.65, higher than it was at this time last year or any past year during October.

Analysts say the recent dip is due to a decline in crude prices and refineries switching to winter blends, but some motorists wonder if politics are also at play, especially since the most dramatic drops have been seen in key swing states like Ohio, where gas has gone down 24 cents, double the national average, or Wisconsin, down 21 cents in a week.

"It is a product of international supply and demand fundamentals," Ash says.

Most drivers say they don't care why, they just hope prices keep falling, which most experts say will continue through the holiday season.


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