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AAA: Gas Prices Down 5th Week in a Row

By: Bailey Disselkoen Email
By: Bailey Disselkoen Email

May 13, 2012

In the Mid-Atlantic Weekend Gas Watch report, AAA says gas prices are down for a 5th consecutive week.

The national average price for regular grade gasoline dropped 7 cents this week to $3.73 per gallon Friday. Prices are 19 cents lower than a month ago, 23 cents below year ago prices and 38 cents lower than the all-time record high of $4.11 per gallon set in July 2008.

In Charlottesville, gas prices are down 12 cents to an average of $3.55 a gallon. Some drivers in the area say if prices continue to drop, they may take road trips this summer after all.

"I'm glad it is, because i couldn't afford to go anywhere if it wasn't," said Donald Patterson, a Fluvanna resident. "I was planning on going on vacation, but I can't until the gas goes down."

Some analysts predict the worst is over.

"After many $4.00-plus gas price predictions for summer 2012, some analysts now say the worst pain at the pump is behind us for the year. OPIS chief oil analyst Tom Kloza believes prices should gradually decline this summer, estimating the national average could slip as low as $3.50 per gallon by the Fourth of July," said Martha M. Meade, Manager of Public and Government Affairs for AAA Mid-Atlantic.

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