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Low gas prices are here now, but for how long?

Going to fill up the tank is putting less of a dent in people's pockets these days, but it might not last long.

Posted: Jan 6, 2019 6:55 PM
Updated: Jan 7, 2019 6:23 AM

FORT WAYNE, Ind. (WFFT)- You may remember back in August gas prices were around $3.00.

As time went on, they got lower when Fall arrived.

Now at the beginning of the year, prices are the lowest they have ever been in a long time.

"With these gas prices that they are nowadays, it's a good impact because you can put more in and save more money actually, so it's an improvement for 2019," Cashton Mace said.

Gas is $1.89 at My Market gas station located at the intersection of McKinnie Avenue and Hanna Street.

The owner, Moe Ghaffor, said he tries to make gas affordable for everyone who lives in the area, so the low gas prices bring the people in.

"We average about 2,000 customers per day. We get more and more everyday," Ghaffor said.

Gas prices in 2018 were more expensive than 2017. In indiana, the 2018 year-to-date average was $2.74, or more than 49 cents more than last year at this time.

"Like for instance if the gas prices are dropped all across the board, we make sure we will always be the first one to drop. we've been dropping it from about 40, 50, 70 cents lately," he added.

AAA said part of the reason for the drop in price is the annual switch to Winter-blend gasoline, which took place in September.

Gas Buddy said gas could reach $3.00 again in the Spring with a strong U.S economy.

"Knowing Indiana, it's probably going to go back up," Mace said.

Traditionally during winter time there's lower consumer demand for gas, with fewer drivers making extended trips.

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