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Gasoline Falls Below $3 a Gallon

Posted on: Thursday, 8 September 2005, 18:00 CDT

Sep. 8--The cost of a gallon of unleaded gas fell below the $3 mark at several Wichita stations Wednesday as some refineries that closed because of Hurricane Katrina reopened.

But it may be too early to call the price cuts a downward trend.

"The market has been so volatile it's difficult to say what will happen in the future," said Sandra Guile, AAA public relations coordinator. "But it appears we may have hit a ceiling."

Wichita motorists reported that several stations lowered prices to $2.97 Wednesday, according to www.wichitagasprices.com.

The cheaper gas prices came as good news to Wichita motorists, who saw local prices mirror a record 46-cent spike nationwide last week.

Erick Tagalile was relieved to see $2.97 gas.

"I think this is one of the cheapest," he said, filling up at US Gas on Oliver south of Kellogg.

But don't expect Librada Oropeza to rejoice as she pumps $20 worth of unleaded into her red pickup.

Paying $2.97 a gallon is still too much, she said.

Meanwhile, a government forecast Wednesday reported gas prices may fall to $2.58 by December if the hurricane recovery effort is completed at a moderate pace.

Kansas Petroleum Council director Ken Peterson said the retail gas market shows some signs of stabilization, mostly due to the reopening of refineries and pipelines along the Gulf Coast.

Although the pipelines carrying fuel to Kansas were not directly affected by the storm, ripples in the flow of fuel can affect people everywhere.

"The gasoline supply system in this county is very tenuous," Peterson said. "If there's an interruption somewhere... it can really disrupt the system everywhere."

Another reason for the price drop could be the price cuts that traditionally come after the high demand of Labor Day weekend, Guile said.

AAA continues to urge motorists to conserve gas and fill up only when needed to keep demand down.

Drivers should also be cautious if they plan to travel east, where there continue to be gas shortages.

"Motorists should feel confident enough to travel," Guile said. "But be aware you may have to stop more than once to find fuel."

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Copyright (c) 2005, The Wichita Eagle, Kan.

Distributed by Knight Ridder/Tribune Business News.

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Source: The Wichita Eagle (Wichita, Kan.)

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