Gas prices could fall if we go over fiscal cliff

6:28 PM, Dec 31, 2012   |    comments
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TAMPA, Florida -- There is some good news if a deal is not reached and we go over the so-called fiscal cliff. Experts say gas prices may actually drop.

American Automobile Association spokesperson Jessica Brady says the average price for a gallon of regular unleaded in Florida is $3.35. That's up about 8 cents from last week.

But Brady says the price would likely drop in the coming days if a deal is not worked out.

"If there's no deal made, then we'll probably see gas prices go up for maybe another week or so, but mid-January, if the demand numbers aren't there and no deal is made, we could see gas prices fall back down. And really it's the opposite of what you would think would happen, and I think that really has a lot of motorists scratching their heads," she told 10 News.

Brady says because gas prices are largely based on speculation and demand, a falling economy would likely mean falling prices.

Of course, she says a deal could also mean gas prices will continue going up in January.

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