The price of West Texas Intermediate crude oil priced in Cushing has tumbled more than 12 percent over the past seven weeks, closing at $96.87 a barrel Thursday, down $1.45 on the day and down from a 52-week high of $110.54 set on Sept. 6.
“We're seeing lower crude oil prices because of the supply and demand fundamentals we have in the United States and also because the tension in the Middle East seems to have eased,” Laskoski said.
The price drops are good news for consumers, Laskoski said they are unlikely to change driving or buying habits.
“Consumers recognize that these trends are seasonal and that as encouraging as it seems now, we know that prices will climb again in early spring,” he said. “We have to enjoy what we have when we have it because we know what's around the corner.”