Low prices at the gas pump temporary, says CSU prof (Video)
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Dec. 4 (Bloomberg) -- Bloomberg's Isaac Arnsdorf takes a look at who is winning and who is losing from the big drop in oil prices. He speaks with Bloomberg's Olivia Sterns on "Street Smart." (Source: Bloomberg)
- Staff Denver Business Journal
Drivers may be welcoming paying less for gasoline these days, but a Colorado State University professor says those low prices aren't going to last.
John Elder, a professor of finance at CSU's College of Business, tells the Coloradan the dip in prices is likely on temporary. Gasoline prices should increase within the next year, as the price of a barrel of oil climbs back to $100, Elder predicts.
The price of a barrel of crude oil has fallen from about $100 in August to about $70 today. And for every $10 that barrel loses in value, the price of a gallon of gasoline falls by about 25 cents.
Gasoline is now less than $3 a gallon in Colorado.
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