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Get Used to Low Prices at the Pump in Fargo?
You may have noticed gas prices across the Fargo area fell overnight.
Why the sudden drop?
It’s safe to say we’re little spoiled when it comes to gas prices here in Fargo when you consider the fact we’re sitting about 20 cents per gallon below the national and state average.
“I’m not complaining on my gas mileage average and the pump price is very good right now,” said Phyllis Johnson.
The lower prices make all the difference for some.
“I think I get 15 miles per gallon highway on this thing right now so absolutely everything counts,” said Jed Johnson.
Experts say the drop was not expected.
“What’s somewhat surprising is the fact that oil prices are up over $50 a barrel up more than 10% since Labor Day,” said Gene Ladoucer, who is a spokesperson for AAA.
Ladoucer said this drop all comes down to supply and demand.
“Looks like we might be having a little bit of a gas war here in Fargo right now,” he explained. “Someone probably moved their prices lower and generally when that happens in this competitive market, the other gas stations are going to follow.”
Before you race off to the pump, it’s important to keep in mind gas prices are still expected to drop.
“It looks like with the drop in demand for gasoline and the seasonal dynamic of gasoline prices moving lower that may be what’s in store for us,” Ladoucer said.
Ladoucer says it’s possible these low prices could last through the winter season.
To find up-to-date local gas prices go to GasBuddy.com.