According to the Dept of Energy's Energy Information Administration (DOE EIA), the short term drop in gas prices will last for a few months. But the long term prediction is for higher prices.
The drop in crude oil prices over the past month has led to some short term relief at the gas pump. But crude oil should increase again next year for an average of $124 per barrel. The EIA predicts gas prices will average $3.65 for the remainder of the year, but will average $3.82 for 2009. Diesel will show a similar pattern, goving from $4.18 this year to an average of $4.72 for next year.
See the EIA's "Short-Term Energy Outlook."
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