Experts rethink high gas price predictions

7:25 AM, May 3, 2012   |    comments
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(KNSD) -- With every visit to the pump, a reminder that gas prices take a big bite out of our budget.

We watch prices rise and fall, and struggle to understand why it's happening.

Sometimes we complain, other times we just shrug our shoulders.

May and June traditionally deliver the highest gas prices of the year and with January starting off with record setting prices, it was bad news at the pump.

"We saw gas prices go up 60, 70 cents in just a couple months," says Consumer Advocate, Charles Langley.

So experts predicted our summer travel would be the costliest on record.

"Demand is down, fuel production is actually up and the refiners in California are actually exporting excess fuel to South America and overseas in a lot of cases," says Langley.

Langley says many experts are rethinking their long-term predictions and calling for prices to keep coming down, not up.

Now prices are still high, but the thought that they will be dropping as the weather heats up could be a boost to the budget and to summertime travel.


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