Survey: Gas Prices May Have Peaked
KANSAS CITY, Mo. — There may finally be some good news for cash-strapped drivers, as a national survey shows that gas prices may have reached their peak.
According to the Lundberg survey released over the weekend, gas prices across the U.S. showed their smallest increase since early January, and the prices at the pump that drivers are seeing now may be the highest they are going to get, and they may either stay that way for a while or even possibly come back down.
The survey showed that the average price for a gallon of unleaded gasoline in the U.S. on Friday was $3.97, up only 3.74 cents since the prior survey taken on March 23.
The small increase in cost is attributed to the high supply of gasoline and the decrease of crude oil prices. According to the survey, the price of crude oil is the main factor when it comes to the cost of gas – so if crude oil stays at its current levels, it will likely mean that gas prices at the pump will do the same.
The highest gas prices in the nation are in Chicago, with gas at $4.45 a gallon. The least-expensive gas prices were found in Tulsa, Oklahoma, at $3.66 a gallon.