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Experts predict that some of the lower priced areas could see prices head north again, but not by any large amount. Some of the higher priced areas like the West Coast still have room to go down, and prices should continue to fall, albeit at a fairly slow rate before flat lining in the coming weeks.
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Despite this drop in the national average, refinery issues have continued to cause West Coast prices to remain at levels well above $4 per gallon. Experts say, however, that the issues have been resolved and prices should drop.
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Analysts see prices increasing in the next few weeks, possibly breaking the record set in July 2008 by the end of April, but don’t believe the rally will continue unless geopolitical events in oil-producing countries, or other events, cause a supply disruption of some kind.
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According to the latest report from Wright Express, gas prices could break 2008 records this summer.
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WASHINGTON – The Energy Information Administration (EIA) revised its summer outlook for gasoline and diesel prices.
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