Bill
May 13, 2010, 01:11 AM
http://www.kgan.com/template/inews_wire/wires.national/3bddd695-www.kgan.com.shtml
As summer nears, expect gas prices to go ... down?
May 12, 2010 23:18 EDT
UNDATED (AP) -- Now this is a welcomed change. Experts predict gas prices will fall as Memorial Day approaches, instead of rising just as summer vacations begin.
Those experts had expected a national average of more than $3 per gallon by Memorial Day. Now they say prices have likely peaked at just below that price.
Motorists can thank rising supplies and concerns about the global economy that have helped send wholesale gasoline prices plummeting. It will take several weeks for the full effect to hit the pumps.
One industry analyst says the national average could fall this summer to below last summer's peak of around $2.70 a gallon.
Almost two years ago the retail price of regular gasoline peaked at $4.11.
As summer nears, expect gas prices to go ... down?
May 12, 2010 23:18 EDT
UNDATED (AP) -- Now this is a welcomed change. Experts predict gas prices will fall as Memorial Day approaches, instead of rising just as summer vacations begin.
Those experts had expected a national average of more than $3 per gallon by Memorial Day. Now they say prices have likely peaked at just below that price.
Motorists can thank rising supplies and concerns about the global economy that have helped send wholesale gasoline prices plummeting. It will take several weeks for the full effect to hit the pumps.
One industry analyst says the national average could fall this summer to below last summer's peak of around $2.70 a gallon.
Almost two years ago the retail price of regular gasoline peaked at $4.11.
