Gas Prices Expected To Drop As Summer Travel Season Nears

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(credit: Joe Raedle/Getty Images)

(credit: Joe Raedle/Getty Images)

Suzanne Monaghan Suzanne Monaghan
Suzanne Monaghan joined the KYW Newsradio team as an anchor and...
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By Suzanne Monaghan

PHILADELPHIA (CBS) — The summer travel season is approaching and motorists can expect to pay less at the pump this Memorial Day weekend than they did last year.

Analysts predict this will be the cheapest summer at the pump since the end of the recession, even though gas prices have been on a bit of a roller coaster lately.

“We’ve seen since a peak in April, gas prices have dropped dramatically,” says Triple-A Mid Atlantic’s Jana Tidwell. “However, in recent weeks, we’ve seen them on the uptick. Reason being, crude oil prices have rebounded, up about $10.”

Tidwell says despite that increase, prices are still lower than they were this time last year.

“We do believe that as we get into summer that prices will drop below that $3.50/gallon mark,” she says.

With a national average between $3.20 to $3.40 per gallon.

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