KALAMAZOO (WKZO-AM) — GasBuddy.com says the average price for a gallon of fuel has plunged since Wednesday, down 18 cents from a week ago in the Kalamazoo area to $1.74.
Analyst Patrick DeHaan expects prices to dive another 10 to 20 cents.
“That may bring some stations down into the $1.40s, maybe into the $1.30s over the next several days,” DeHaan said.
He also said there’s a connection between cut-rate crude near $30 a barrel and the recent relief at the pump.
“As oil prices have plunged, spot prices of gasoline have followed,” DeHaan said. “That is what’s opening the door for these big drops.”
Per-gallon averages are below $1.80 throughout west Michigan and under $1.70 in Grand Rapids.
– Anthony Pollreisz
