Are Low Gas Prices Too Good to be True?

If low gas prices have you scheming of road tripping plans, act on them now because chances are plummeting oil prices won’t stay down. In recent weeks, oil prices fell to the lowest level in more than five years. Priced at fewer than two dollars a gallon in some parts of the country, gasoline is the cheapest it’s been since 2010.

While U.S. consumers are flocking to the tanks, is anyone stopping to think that low gas prices might be too good to be true? Driven in part by the U.S. shale boom, which, according to this article in the International Business Times, “has been compounded by OPEC’s refusal to step in and cut production to balance out the market,” low gas prices are only temporary.

“As far as what that means for the consumer and for gas prices, I think we’ll be in these more depressed prices for at least the next two quarters, but I think we have to drift back higher over time,” Chad Mabry, an analyst in the energy and natural resources research department at the New York investment bank MLV and Co. said. “I don’t see them spiking back up there next week or anything, but these prices are unsustainable.”

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