Alltop, all the top stories

Gas Prices Not So Bad

Did you take a little road trip on Memorial Day Weekend? Didn’t hurt that much to fill up, did it?

Gas prices could go even lower in coming weeks. I’m not saying it will be cheap, or that you will get a 6-pack of Coke when you fill up, but prices will probably stay under the $4 or $5 fearmongers were predicting.

Gas prices are still historically high, but it’s starting to feel cheap by comparison to where we were just months ago,” said Jason Toews, co-founder of Gasbuddy.com, which tracks prices throughout the country.

Prices could fall as much as 10 cents a gal during Jun. Key word ‘could’.

You have a couple of wild cards in the middle of the summer” that could trigger significant price fluctuations, said Tom Kloza, chief oil analyst at Oil Price Information Service. Among them: economic instability and a looming election in Greece, fears of a recession in Europe, the arrival of hurricane season, and tensions over sanctions against Iran, which has threatened to disrupt Middle East oil supplies.

Kloza is always a little ray of sunshine.

“You’re about as miserable as you were last year, but you were prepared to be much more miserable,” Kloza said. “It’s like you’re prepared for a 100-degree day and you got 90 degrees. It’s still uncomfortable; it still crimps consumer spending. But it’s not quite the crisis that some people were calling for.”

Leave a Reply


Reload Image