Will gas reach $4 by Thanksgiving? Experts don't agree

INDIANAPOLIS (WISH) - Analysts disagree on whether gas prices will spike before the holidays this year.

Patrick DeHaan, petroleum analyst with GasBuddy.com, told 24-Hour News 8 he believes that by Thanksgiving, gas prices could drop 5 cents to 15 cents per gallon. Other analysts say prices could climb closer to $4 per gallon, ahead of the holidays.

The average price for a gallon of regular unleaded gas in Indianapolis on Tuesday was $3.36, according to GasBuddy.com. Nationally, the average was $3.41.

“Everybody’s got their own opinion. I certainly don’t foresee $4 a gallon gas at least into the new year,” said DeHaan.

DeHann says the reason he believes gas will stay low is because it’s the off-peak season, and distributors are using a winter blend which is a few cents cheaper.

Long term, reports show that gas prices could top the $4 per gallon mark, and hit $4.50 next summer. That hasn't happened since 2008.

“There will be less pressure from Libya. I think we will see $4 gallons next spring. It just depends on what markets,” said DeHaan. “Not the best summer and spring coming ahead of us, but at least prices will be falling ahead of this Thanksgiving.”

For the latest on gas prices in your neighborhood, visit the WISHTV.com Traffic Page .