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Gas prices in Fargo-Moorhead area expected to continue decline in coming weeks

Gene LaDoucer of AAA in Fargo says the trend is likely to continue, although a rebound in demand for gasoline could reverse it.

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Natural gas is flared Friday, Sept. 25, 2015, at the Hess Corp. gas plant in Tioga, N.D., due to maintenance issues.
Amy Dalrymple/Forum News Service
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FARGO — The national average of a gallon of gas is a full 90 cents lower than its peak in June when it was just over $5 per gallon.

A few gas stations in the Fargo-Moorhead area are selling gas for less than $4 per gallon for the first time in months. It's good news for pocketbooks, but will the good news keep coming?

Gene LaDoucer of AAA Fargo says that remains to be seen.

"It all comes down to supply and demand balance," LaDoucer said. "Then as demand falls off, prices can come down."

Historically, gas prices are at their highest in the summer months, and that's certainly been true this year. When Fall comes around, they start to go down. So one might expect gas prices to continue a slow and steady decline. With demand also expected to rebound after being on the decline for the last few weeks, that could change, however.

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"Then that could lead to higher prices, or at least stabilizing of the prices, stopping this trend that we've been seeing lower over the past several weeks," LaDoucer said.

He says it's challenging to say for sure, as other factors like competition between different gas stations, the price of oil and more Americans switching to electric cars could affect gasoline prices.

Despite the uncertainty of the future, LaDoucer said all signs point to North Dakota's national gas average continuing to inch lower and lower.

"(It's) very likely by the weeks end, we could be see the metro area below $4 a gallon," LaDoucer said.

In a year of surging prices, that could spell relief for many.

Related Topics: ENERGY AND MININGFARGO
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