Gas Prices Drop Ahead of Holiday

I saw the strangest thing this morning: $2.99. 

That was the price for a gallon of unleaded at my local gas station.

I haven’t seen sub-$3 gas in a long time. Nationally, gas is down 7 cents in a week; the national average is now $2.75 a gallon for regular unleaded.

And these prices might get lower as we dig deeper into summer. It’s the opposite of what we’ve come to expect every year as the weather warms up and people hit the roads for vacations.

That’s because there is more oil on the market, even with the BP oil well leak in the Gulf of Mexico.

However, lower prices aren’t a lock. AAA predicts 5% more people will travel this summer than last, the first spike in travel since 2005. With the increased demand for gas, prices could easily reverse course.  

Summer gas prices lower, could fall more (USA Today)