Gasoline May Drop 50 Cents

Some good news for drivers. Gasoline prices may not continue to rise. In fact, experts and analysts in trading, government and the travel industry have been looking at the level of fuel consumption and picking out trends. Lowered gas demand and rising supplies of gas point to the trend of consumers using less fuel as the prices stay high. This could even make way for a decrease in price at the pump. Reuters quotes an AAA spokesman as seeing the possibility of lowered prices at the pump in the near future: "Something dramatic is occurring with consumer driving habits. ... These numbers, if sustained over next couple of weeks, should set the stage for a reversal of price forecasts." In the interview, the same spokesman told Reuters that gasoline prices may even drop $0.50 (fifty cents) from the current rate of just under $3/gallon. Summer months are often a time of travel, so the possibility of lowered spring gas prices would certainly be an interesting mix into the equation.

Sources: Reuters