NEW YORK – Some relief from suffocating gas prices will likely arrive just in time for summer vacation. Expect a drop of nearly 50 cents as early as June, analysts say.Good new for the economy for sure. When people spend more for gas, they spend less on other consumer goods. Purchasing more consumer goods, helps the economy and creates jobs, purchasing gas doesn't.
After rocketing up 91 cents since January, including 44 straight days of increases, the national average this past week stopped just shy of $4 a gallon and has retreated to under $3.98. A steady decline is expected to follow.
May 08, 2011
Gas prices expected to drop 50 cents by summer.