"Colossal collapse" in gasoline prices predicted ahead of midterm elections, expert says

Gas prices are expected to continue to drop into next week during the midterm elections, a new report predicts.

Oil Price Information Service analyst Tom Kloza told USA Today on Friday that there could be a nationwide "colossal collapse" in gasoline prices thanks to a sharp drop in oil prices.

The industry expert said gas could reach as low as $2 a gallon within the next two weeks.

The prediction echoes a Houston Chronicle report from Monday that noted a 7 cent drop per gallon of gasoline in Bayou City in the past week thanks to a spike in oil production and a slowing global economy.

In Texas, gas prices dropped from $2.67 a gallon to $2.51 between October and November, according to GasBuddy, a website that tracks gas prices.

Of course, cheap gas isn't great for everyone. Oil is set to have it's worst week since February thanks to a "looming oversupply," Bloomberg reported Friday.

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Comment by Nazda Pokmov on November 2, 2018 at 8:35pm

AAANNNNNDDDDDDD the prices will be jacked up after the election as usual.......

Comment by Boris on November 2, 2018 at 1:31pm

"Destroying the New World Order"

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