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Connecticut Oil Analyst: Gas Prices Have Likely Peaked For The Year

Gas Pump (file / credit: David Paul Morris/Getty Images)

Gas Pump (file / credit: David Paul Morris/Getty Images)

HARTFORD, CT (WCBS 880) - While there are some predictions of higher gas prices in December just in time for the holidays, oil analyst Peter Beutel believes prices, for the most part, have peaked.

WCBS 880 Connecticut Bureau Chief Fran Schneidau On The Story

“Every time that the dollar has weakened over the last six months, that’s pushed energy prices higher and so that’s one of the reasons that we’re heading into this Thanksgiving with such high prices to begin with,” He said.

Beutel says some retailers may adjust prices upward to reflect the most recent price they paid for gas.

“I’d say as the economy improves we probably will see a little bit added to the price we’re going to pay, but I’m not looking for anything that dramatic between now and the end of the year,” he told WCBS 880 Connecticut Bureau Chief Fran Schneidau.

But he expects prices at the pump to stabilize until early spring, when they begin their annual upward climb toward Memorial Day.

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