Low gas prices dip down but not for long

December 10, 2008 4:47:11 PM PST
After suffering those high gas prices this summer, motorists are seeing the lowest gas prices since February 2004; that's the lowest in five years. But 7 On Your Side's Michael Finney says it may not last so drive cheap while you can.

Prices are still going down, but they could level off and even begin to go up again and there are a couple of reasons for that.

Back in July gas was going for $4 a gallon. As of today, AAA reports the national average is down to $1.68 and in California it's down to $1.79. Drivers are pumped. This week demand for gas actually inched up for the first time since last April.

Add to that the higher demand the concerns OPEC could cut supplies and all the cheap gas could evaporate. The lesson here is to enjoy the lower prices today, but plan for the worst.