KANSAS CITY, Mo. — Drivers across the region are breathing sighs of relief as gas prices drop drastically.
The decline comes just in time for anyone considering a road trip for Spring Break.
Experts say the average price for a gallon of regular gas in the metro is around $2.97. That’s down 9 cents from last week. Prices dropped 25 cents from last month and a whopping 48 cents from a year ago.
Diesel gas prices dropped even more significantly.
Unfortunately gas experts, like GasBuddy, say the lower prices probably won’t last long.
GasBuddy is a tech company based in Boston. It monitors gas prices across the U.S., Canada, and Australia.
A company spokesperson said a change in seasons usually brings a change in prices and Spring and Summer will be here before we know it.
“The real factor in this decline here in the last week has been the falling price of oil which has come under pressure for an ironic reason. Interest rates and data coming back on inflation and job numbers are still looking very strong and that’s likely to cause the federal reserve to raise interest rates and that is likely to cool the economy,” Patrick DeHaan, GasBuddy spokesman, said.
DeHaan said he expects gas prices to be up to $4 a gallon by the end of summer, so start saving where you can now.
He predicts gas prices will start climbing again in about a month.