Prof. Samii on Falling Gas Prices

Friday, December 05, 2008

Oil Exec: Gas Prices Could Drop To $1

MANCHESTER, N.H. -- New Hampshire drivers are enjoying falling prices at the pump.
In the last month, the state average has dropped 68 cents. On Thursday, AAA listed the average for a gallon of regular at $1.81.
The CEO of Gulf Oil, headquartered in Massachusetts, said we could see prices drop to $1 by early next year.

Speaking Thursday, Joe Petrowski said "there is a better than 25 percent probability that we'll see oil go as lo as a dollar a gallon some time after the first of the year."

Masood Samii, Southern NH University Professor and former chief economist at OPEC, said prices may drop that low in some areas for a short period of time, but it likely won't be across the nation or be sustainable

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