Experts say Sandy could be reason for falling gas prices - WBAY

Experts say Sandy could be reason for falling gas prices

Posted:
NASHVILLE, Tenn. -

Gas prices have taken a sharp dip over the past week and experts say it's a combination of Superstorm Sandy cutting into demand and crude oil prices declining.

As of Monday morning, the national average sits at $3.47. That's down $.07 from the previous week.

In Tennessee, drivers are paying approximately $3.22, $.09 less than this time last week.

The average for gasoline in Nashville is $3.26 which is down from $3.33 last week.

One of the cheapest locations was found in east Nashville at $3.09.

Memphis has the cheapest average price for gasoline in the country at $3.11 while drivers in San Francisco are paying the most at $4.05.

Crude oil prices have declined and are expected to continue dropping through Thanksgiving.

Experts say prices could be dropping because drivers in the northeast are using significantly less gas.

Experts say they either aren't driving much or can't find gasoline because many gas stations don't have power.

AAA estimates that 60 percent of New Jersey's gas stations and 70 percent of those in Long Island, NY closed after the storm.

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