Wholesale gasoline prices will continue their recent downward slide during the holiday season, bringing lower prices for motorists at the pumps, a leading oil industry analyst said Sunday.
The national average price of a gallon of gasoline was virtually unchanged over the last two weeks, dropping only about half a cent to $1.005, said Trilby Lundberg, whose publication, the Lundberg Letter, surveys prices every two weeks at 13,000 gas stations across the country.
"We expect cuts at the retail level at many places down the line because the wholesale price has fallen dramatically just this last week," Lundberg said. "Motorists could see price cuts at the pump in December or sooner."
Cuts Deeper in West
But, she noted, the dip could start price wars that cut into retailers' profit margins and prevent them from passing on any wholesale cuts.