Much-needed relief as gas prices tumble in Metro Detroit

Welcome relief at the gas pump, something we haven't seen in months. Good evening, everybody. I'm Bruce Peraz. Gas prices tumbling, but why? Fox 2's Lauren Edwards is live tonight in Southfield to help answer that question. And Lauren, you talked to some experts out there. It may not be what we think. Oh, absolutely. But Bruce, I first want to say that I got this entire idea because yesterday I just casually posted on social media, hey, I saw some affordable gas prices in Detroit, 374. It kind of went viral and a lot of people started responding saying, hey, there's even cheaper in Dearborn, in Trenton, in Inkster. So we talked to a few drivers and they tell us they like what they see. Well, you know, any time you get nervous before you get in your car, you know, it's a problem. And the thing is, we see them going down a little bit, but then we don't know how long they're going to stay down. You know, they're up, they're down. And it's just ridiculous because you have to make decisions based on gas, food. You know, we're just trying to get it. We wanted to get back to some normalcy, you know. I appreciate that they're going down now. It was pretty hard for me with the gas being as high as it was just a few weeks ago. And when I went to work the other morning, I seen how low they were, and it put a big smile on my face. I'm happy. As you see, I drive a 24 gallon vehicle. It's a great relief. My main concern is like, why was the price raised right before election Tuesday? And then as soon as the election is over, It dips. So what is that all about? Is we going to continue to see a relief at the pumps or is this just a temporary fix? Is this a temporary fix? That's the question a number of drivers have been asking. That's what they asked Fox 2. Now over the summer, Fox 2 did several stories on gas prices skyrocketing. Gas buddies saying at that time it was due to the war and Iran's impact on the Strait of Hormuz. And Professor Michael Greiner of Oakland University says the war is part of it. But he says that's not the only factor. Prices tend to take a dip this time of year every year. The summer's ending, you know, there's less demand for oil, you know, we haven't kind of gotten into the cold winter months yet. So as a result of that, it is typically a time of year that you'll see gas prices go down anyway. That being said, I do think that there is some impact, at least from the election this time around, because I think there is a hope. That because of the change that we're seeing in Washington, that there will be pressure to end the war that's going on in Iran and that there might also be pressure to try to do something with what's going on in Ukraine. And as a result of that, there might be more oil that's able to come onto the market. Now coming up on The Edge is these tumbling gas prices. Are they easing any pain at the pump or are drivers still feeling some anxiety? You'll hear from them once again on The Edge. For now, reporting live here in Southfield, Lauren Edwards, Fox 2 News. Yeah, we also know that those refineries in the Midwest were causing a problem and had prices sky high because they weren't working to full capacity. But we understand that the one, I think it's the Exxon Refinery in Illinois and then the BP Refinery in Indiana, they're back up running almost to full steam. And that probably helps a lot. Yeah, absolutely. The refineries had something to do with it as well. But one thing I took away from what he said is that this actually happens every year. And the fact that we haven't gone into the colder winter months. So that's reason why they have dropped and they dip. But you're going to hear from drivers on the edge about does all of this ease any anxiety? And I think you'll be interested in what they have to say. For once, we don't have to look the other way when we're filling up. It's not going to be so terribly high as it has been the last few months. Lauren Edwards for us live tonight. Thanks, Lauren.