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As Summer Nears, Expect Gas Prices to Go...Down?
CHICAGO (AP) -- Gas prices are poised to fall as Memorial Day approaches. And that's a welcome change for motorists who've gotten used to seeing increases cut into their summer vacation money.

Experts who had been predicting a national average of more than $3 per gallon by Memorial Day now say prices have likely peaked just beneath that threshold. Rising supplies and concerns about the global economy have helped send wholesale gasoline prices plummeting by 25 cents a gallon since last week.

Phil Flynn is an oil analyst with PFG Best in Chicago, and he says "gasoline supplies are about as good as they've ever been going into the summer driving season."

The decline in prices is starting to filter down to motorists, but it will take several weeks for the full effects to be reflected in pump prices, which average $2.91 nationwide.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
05 12 10 by Newsroom
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