The Main Stream

May 6, 2014 7:53 PM

Gas prices have peaked, but don't expect big drop

Much of America watched helplessly as gas prices climbed over the past few months, forcing drivers to spend about $11.7 billion more filling up this April than they did at the same last year.

Now analysts say gas prices are falling after a hitting a peak last week of about $3.70 a gallon for regular unleaded.

Prices have already dropped about three cents a gallon and will continue to fall according to Michael Green of AAA.

"Most people should be paying less for Memorial Day than in recent years," Green says.

Analysts say there's a small chance the national average could even dip below $3.25 a gallon this summer.

Green says increased production is driving the drop in prices now that refineries have completed their yearly spring maintenance and reformulated their gas for summer.

Read more: http://nbcnews.to/1nhuWcG

»Comments

Most Popular

Top Videos

1 2 3 4