Good news for drivers about gas prices

DAYTON, Ohio (WDTN) - The national retail average for gas has fallen for ten straight days, it's now $3.74 a gallon.

But, prices at the pump here in the Miami Valley are much lower than that. A gallon of gas is $3.35 in Kettering, $3.37 in Fairborn and $3.27 in Dayton.

Drivers have different theories as to why there's been a dramatic drop. Some say the election, others say the economy.

Dr. Riad Ajami is the director of the Center for Global Business at Wright State University. He says the explanation is simple: supply and demand.

"Oil stocks have gone up. Demand has gone down and you may ask, why has oil demand gone down? The recent data on unemployment suggests that we are not having enough people gainfully employed in the market," says Dr. Ajami.

About a month ago, he says gas prices went up much higher than they should've due to refining problems in the US. But, drivers shouldn't see a rise in gas prices again anytime soon.

"They'll be steady and they're not going to be picking up until probably early next spring unless, of course, we have unexpected events in the Middle East, political problems in a few other places," explains Dr. Ajami.

And some more good news for drivers, experts predict that gas prices will drop about 5 to 15 cents per week for the next three weeks.