Gas Prices May Drop To $3.25 By Month's End

Earlier this month, we told you gas prices may have already peaked for the year. 
That’s despite initial concerns gas would soar toward $5-a-gallon this summer.
As the AP reports, the decline in prices is expected to continue. Drivers may be paying $3.25 within the next two weeks:

Retail gasoline prices dropped by a penny to a national average of $3.71 per gallon on Friday. That’s 22 cents less than the high of $3.94 per gallon reached in early April. Lower oil prices are the main reason. Weaker demand is also helping reduce prices, as consumers watch their spending in the sluggish economic recovery.
Motorists on the West Coast, in Illinois and New York pay the most for gas — from $3.83 per gallon to $4.54 per gallon — according to AAA, Wright Express and the Oil Price Information Service. The lowest prices, from $3.39 to $3.51 per gallon, were in the South and parts of the Midwest.
Prices should continue to decline heading into Memorial Day. The national average is expected to be about $3.60 per gallon for the long holiday weekend, but a smattering of cities may see prices much lower.

 

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