Gas drops under $3

Published 11:50 pm Friday, November 8, 2013

Suffolk motorists saw gas prices under $3 a gallon this week for the first time in almost two years and nine months.

Prices were as low as $2.96 at some stations on Friday. The last time Suffolk saw gas under $3 a gallon was on Feb. 24, 2011, said senior petroleum analyst Patrick DeHaan.

That low price point occurred just before prices began to rise over concerns surrounding unrest in Libya.

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DeHaan said local drivers can expect prices to continue to drop.

“Prices should continue to drift lower in the immediate future,” he wrote in an email. “Prices historically bottom out between Thanksgiving and Christmas and then climb slightly after the New Year.”

DeHaan said lower demand and the cheaper cost of producing winter gasoline contribute to the seasonal shift.

Other factors affecting current prices include high domestic oil production, the lack of hurricanes and cooling geopolitical tensions, he added.