Lower gas prices expected to please US motorists

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2012-04-16

Gasoline prices may be slowing down according to futures market pundits.

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The fuel run-up may now be on the decline, thanks to the easing demand from the slowing global economy.

The Saudis have also increased production, creating another likely scenario for lower pump prices.

The oil market has been very tight over the past two years, with prices going up around 12% from the start of this year.

The International Energy Agency has said Saudi officials will now try hard to make up any supply shortfall before the northern summer.

This month pump prices hit $4 a gallon.

Forecasts suggest the retail price of a gallon of regular gasoline should peak to $4.01 before easing to an average of $3.95 a gallon during the summer months.

Source: North America News.Net

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