Local economist: don't expect dramatic drop in gas prices soon

Published On: Dec 24 2013 07:19:57 AM CST   Updated On: Sep 23 2013 11:10:31 PM CDT
Gas prices likely stabalizing

Drivers might see a little extra money in their wallet after filling up at the gas pump.

The nation's average price for a gallon of regular gasoline dropped 6 cents a gallon during the past two weeks. La Crosse is just slightly under that at $3.49 a gallon Monday.

A local economics professor says don't expect a significant price drop any time soon.

And it's not because of anything we're doing, it's because of the growing demand overseas. "One of the big changes on the world market has been the increase consumption of gasoline in Asia, especially in China where a lot more people own cars and a lot more people are driving cars, that's a big demand for gasoline," said UW-L Economics Professor Mike Haupert.

Gas prices in parts of South Carolina have topped the four dollar mark.