Insiders expect big drop in gas prices

by: Jim Strickland Updated:

The Friday morning price near $2.60, which is exclusive of taxes and transport charges. That was the lowest price since before Christmas 2011.

DORAVILLE, Ga. - Sources in the Atlanta gasoline market tell Channel 2 Action News there is a major breakthrough in the price that local convenience stores pay for gas.

Consumer investigator Jim Strickland learned from sources they use special software to survey the average price charged at the gasoline terminals at Doraville in DeKalb County.

The terminals are the major suppliers to the gasoline retailers.

Price analysis shows Doraville's average charge was down 5 cents on Thursday and another dime Friday morning.

The Friday morning price near $2.60, which is exclusive of taxes and transport charges. That was the lowest price since before Christmas 2011.

Drivers at a Gwinnett County QuikTrip were celebrating the news.

"It's helped out tremendously and I hope it continues to go down. It would be excellent if it would go below three bucks. I mean, it's been a long time," said Bruce Morrison.

"We're hoping to go below three (dollars), like in a week, hopefully. It keeps going down, down, down," said Christel Radford.

Investment strategist Wes Moss said the price drop is linked to the decline in crude oil, which has been triggered by slack demand and global uncertainty.

Moss believes the bottom may have arrived.

"We're in a slight slowdown, but not in a global recession, so I'm a believer that oil doesn't go much below where it is today," Moss said.

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