Gas Prices: Update

CBS Atlanta


If you have been checking and if your are like most of us, you’ve probably notices that gas prices since the first of this year have increased 59 cents. There is some good news. Summer prices are expected to be significantly lower than last summer.
Rising crude oil prices are noted as an explanation, as the national average for gas is now $2.62 per gallon of regular unleaded. That’s the cheapest to start the month of May since 2009, according to AAA spokesman Josh Carrasco, when the national average was $2.05. Last year’s average price on May 1 was $3.69.
#West Texas Intermediate crude oil closed at $59.15 on Friday, the highest settlement of 2015. Oil prices have been steadily rising as the market considers a possible slowdown in domestic oil production. A reduction in growth could signal that the market is rebalancing supply and demand in…

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