Mid-Southerners enjoy lower gas prices - WMC Action News 5 - Memphis, Tennessee

Mid-Southerners enjoy lower gas prices

(Source: WMC Action News 5) (Source: WMC Action News 5)

Gasoline prices have climbed lately, but get ready for prices to drop to their lowest amount in at least six years.

According to oil industry experts, gas could be a dollar cheaper per gallon than it was last year. 

Drivers across the Mid-South are taking advantage of the situation, especially at places like Express Airways in Whitehaven, which had gas priced at $2.10.

"It’s the cheapest in the neighborhood, this store and one down the street,” said customer Thomas Fullwiley.

"That's good; it needs to drop a little bit more. I want it to go back to the 97 cents days," said Lisa Morgan.

Gas analyst Ben Brockwell explained why prices are lower. Brockwell, who is with the Oil Price Information Service, said economic troubles in China are at the root of lower gasoline prices in the United States.

"The reason prices have dropped from the past year is because oil supply has been growing at a much faster rate than oil demand," Brockwell said in a phone call with WMC Action News 5.

Brockwell said he thinks the cost of gas will stay low until China can solve some of the economic problems that led to the lower prices.

This is of course great news for gas shoppers in the Mid-South, who hope China’s supply and demand problems continue.

"Hate it for them, love it for me,” a shopper explained.

To keep up with the changing gas prices and find where to get the cheapest gas, check out our gas tracker.

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