clock menu more-arrow no yes

Filed under:

After 4-month surge, gas prices start falling

FILE - In this April 9, 2012 file photo, gas prices are posted at a gas station in Breezewood, Pa.  Pump prices rose relentlessly from January through April, pushing average gas prices above $3.90 a gallon and taxing families’ budgets. Some forecasters ex
FILE - In this April 9, 2012 file photo, gas prices are posted at a gas station in Breezewood, Pa. Pump prices rose relentlessly from January through April, pushing average gas prices above $3.90 a gallon and taxing families’ budgets. Some forecasters expected a $5 peak by the time families got on the road for summer vacations. But prices are expected drop by 10 cents by next week, thanks to a recent drop in oil and wholesale gas prices and frugality at the pump.
Gene J. Puskar, Associated Press

NEW YORK — The worst is over, for now: Gasoline prices are starting to fall.

After a four-month surge pushed gasoline to nearly $4 per gallon in early April, motorists and economists feared that gasoline prices might soar past all-time highs.

Instead, pump prices have dropped 6 cents over two weeks to a national average on Friday of $3.88. The decline in gas prices follows a recent drop in oil prices.

Experts say gasoline could fall another nickel or more next week. If that happens, it would be the first time since October 2009 that drivers would be paying less at the pump than they did the year before.