Lower demand fuels drop at the pump

4:10 PM, Oct 16, 2012   |    comments
Patrick DeHaan with gasbuddy.com expects regular gas prices to drop to as low as $3.15 a gallon locally by next week.
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GRAND RAPIDS (WZZM)-The pain at the pump is easing in West Michigan.

Patrick DeHaan with gasbuddy.com expects regular gas prices to drop to as low as $3.15 a gallon locally by next week. DeHaan attributes the change to a drop in demand, an end to the oil refinery season, and speculators who are focusing on other popular winter commodities, like heating oil and diesel fuel.

DeHaan says the price for a gallon of regular gas should remain in the $3.35 to $3.75 range for the rest of the year, as long as the market holds steady. He says oil prices in the Chicago region are the lowest in the nation, as refineries look for buyers.