Gas Prices Falling During Peak Driving Season

Posted on May 29, 2010

Gas prices are heading in the opposite direction of the way they generally trend aroud Memorial Day. Prices are heading lower, which is good news for consumers. USA Today reports that the average price is around $2.76.

The average price of a gallon of regular gas on Thursday was $2.76, according to AAA. Analysts say it may be a nickel to 25 cents lower in many parts of the country through the holiday.

"I think in most parts of the country, people who shop around will be able to ... get gas between $2.50 and 2.70," says Tom Kloza, chief oil analyst at the Oil Price Information Service.

Gas prices are about 13 cents lower than they were a month ago according to the AAA's Fuel Gauge Report. There were fears earlier in the year that gas prices could climb to $3 or more for the nationwide average. Instead consumers may find gas prices continue to fall during the summer.

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