Prices Plunge at the Pump

Hazle Township, Luzerne County-- Gas prices have continued a downward trend over the past couple months-- putting a little extra cash back in drivers' wallets.

While consumers have paid all-time high prices in 2012-- experts say the current plunge at the pump will continue-- possibly down to an average of about $3.00 a gallon for many of us.

The numbers have been rolling up a little slower on the gas pumps at the Fuel-On Truck Plaza in Hazle Township the past several weeks.

Stanley Stamps, a trucker from Panama City, Florida, noted, "I think they're better than what they were. It could stand to drop a little bit more. A lot of families are not as fortunate as others, when it comes to traveling and everything else."

Customers we spoke with say having a little extra cash in their pockets has been a nice-- if somewhat foreign-- feeling.

Isabel Matino, of Ringtown, said, "I notice the difference in my weekly budget. I give myself so much money for entertainment, for gas, things like that."

With supplies rising and demand fizzling, wholesale prices are sinking fast-- to a current national average of $3.37 for a gallon of regular.

You'll recall it was just about two months ago that prices topped out close to the $4.00 mark.

And while people we spoke with say they appreciate the drop in prices-- especially around the holidays-- most would like to see it go down a lot more!

Stamps continued, "I would say, my personal opinion, at least another 30 to 40 cents would be sufficient enough to make a difference."

Matino added, "I would say 50 cents less. I come from a time when it was very, very, very cheap. My father owned a gas station-- you were looking at 26 cents a gallon."

Experts expect this recent plunge at the pump to continue at least through the new year-- mainly due to an overabundance of supply and declining demand.