Thursday, May 3, 2012

Gas Prices Headed Lower

A recent article I read from CNNMoney is predicting gas prices to fall in the coming weeks and coming months. This is a good thing for motorists and summer travelers. The article stated that we may have seen the highest gas prices of the year all ready peaking at around $4.11, so we shouldn't expect to see anything higher than that. The major reason that there gas prices are declining is because of a decrease in price of crude oils. The articles says that Brent Crude oil has fallen from a $125 price in April to around $100. The reason for this is that the tensions created by Irans nuclear program with the U.S. have decreased. As the article states, as long as we don't see a shortage of supply or refinery outages, gas prices should not rise throughout the summer months.

http://money.cnn.com/2012/04/26/markets/gas-prices/index.htm