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Back in January, analysts has quite a scare: gas prices were soaring, with no relief in sight. Many predicted we'd see nationwide averages of $5 a gallon before all was said and done -- and in some places, we did.
Today, the outlook is a little brighter. Iran has backed away from its threats to shut down the Strait of Hormuz, and oil prices have dipped below $100 a barrel. The average price for a gallon of regular unleaded is now $3.64, and you -- optimistic, intelligent travel-planner that you are -- fully expect to see that number drop some more before you hit the road on your long-awaited summer vacation.
Don't -- at least, that's what many analysts are saying.
According to CNN and Tom Kloza from the Oil Price Information Service, drivers may see a little fluctuation in gas prices over the next few months, but prices should remain more or less where they are.
True, there are some factors pulling gas prices down, like:
However, there are also factors pushing prices up, namely:
All told, those weights and counter-weights should balance out and hold prices steady for the next few months -- or so say the analysts. Of course, these are the same analysts who said we'd hit $5 per gallon, so, you know, take it for what it's worth.
Do you expect gas prices to plummet before you head out on your summer road trip? Drop us a line and tell us why, or leave a note in the comments below.