Good news — we may see $2.50 per gallon gas prices this year without ever having donated a penny to Newt Gingrich’s $2.50 per gallon campaign.
Gas prices have been dropping steadily in Massachusetts since April, and according to at least one analyst, that may just be the tip of the iceberg.
Energy analyst Philip Verleger told Bloomberg TV that U.S. drivers could see $2.50-a-gallon gas prices by November.
The cause is two-fold, he said: the price of oil has fallen sharply recently due to over-production in Saudi Arabia and falling demand due to Europe’s economic slowdown is also a factor, said Verleger.
Of course this won’t stop Newt from crawling out of a hole in November to declare that his divine influence somehow lead to $2.50 gas. Like magic.