Gas Prices Down, Following Trend - - ABC13

Gas Prices Down, Following Trend


Videojournalist: Melinda Zosh

Lynchburg, VA - It may not feel like it, but gas prices are coming down and now sit around $3.75 a gallon.

But experts say don't count on the prices going much lower than that. In fact in just a few weeks, you can expect to pay as much as $4 a gallon. Experts say there are a number of factors that drive gas prices. It's everything from supply and demand to taxes.

They say they've also noticed a steady trend since 2005. Gas prices start rising in April sometimes peaking in mid to late May.

"In other years, they've continued to rise through September, so what's difficult is to pinpoint where the peak is going to be, but it's probably pretty safe to say for the next few months we're going to be looking at higher gasoline prices," said Joe Turek, an economics professor at Lynchburg College.

Turek says refineries use a different gas mixture during the summer months. It's more costly, and he says that can also drive prices up.

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