The prediction I made at the end of All stations retreat in gas price war came true in less than 24 hours.
Gas might have just a little way down to go before heading up again. Gas Buddy suggests that's possible, too, as the Detroit average is $1.85. I suppose the stations in my old neighborhood could drop down to $1.75, but lower than that would be pushing it.I drove past all the stations in my old neighborhood late yesterday and all three stations down the street had lowered their price for regular to $1.75. Go me. The corner station was still at $1.79, but I expect them to join the rest shortly.
As for more price drops, I think the answer is not yet. Gas Buddy's Detroit average is currently $1.84. It would have to decrease a few more cents over the course of this week to prompt another move down. That could happen, as both major crude oil futures plummeted in Monday's trading according to Oil-Price.Net, which shows WTI at $46.07 and Brent at $47.43, falls of 4.97% and 5.65%, respectively. That's already had an effect on RBOB, the spot price of which slid down to $1.27, a nickel lower than on Friday. Looks like I may still get to use Limbo Kitty a few more times before the seasonal price increase returns later this winter.
ETA: For those keeping track, the U.S. average price for regular is now $2.12 and falling. $2.00 gas, here we come!