KALAMAZOO (WKZO-AM) — Kalamazoo fuel stations are expected to start posing gas prices below the $2 mark this weekend.
Patrick DeHaan with GasBuddy.com said regular is selling for about $2.15 a gallon.
“It’s down 23 cents from a week ago,” DeHaan said. “We saw oil prices give us a bit of a head-fake that gave us a temporary rise in price, but, after that move higher, oil prices has relapsed.”
And weakness in the oil market should push prices even lower. DeHaan said crude inventories remain high, but also said other factors are at play.
“The possibility that the Fed would raise interest rates is actually putting more downward pressure on oil,” DeHaan said. “It means, generally, a stronger dollar, and, since oil is globally traded in U.S. dollars, there’s certainly stakes that go along with any rise in interst rates.”
DeHaan also said refinery maintenance season is beginning to wrap up.
– Anthony Pollreisz
