Gas prices showing declines

Published: Friday, November 15, 2013 at 04:49 PM.

All indicators point to the downward pressure on prices to continue.

U.S. crude oil prices on Thursday hovered near $93 a barrel. It was $104 a barrel in early October.

Concerns that the Federal Reserve could start reducing its bond purchases, which are meant to stimulate economic growth, was one factor weighing on oil prices. The stimulus measures have helped boost the price of oil and other commodities, attracting investors hoping for better returns than the low interest rates on bonds, reported The Associated Press.

With the current trends, the national average should continue to close in on $3 - but most analysts don't expect it to drop below before the year is out.

AAA said it expects the national average to hit $3.10 before the end of 2013.

Gareth McGrath is a reporter for the Wilmington Star News.

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