Analysts: Gas prices may have peaked [View all]

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Analysts: Gas prices may have peaked

By Andrew Restuccia

Gasoline prices, which have vexed President Obama politically in recent months, may have reached their peak, according to energy analysts.

Prices at the pump reached nearly $3.94 last Friday, the highest point this year, according to AAA. But prices have decreased slightly over the last five days, reversing increases that began in December of last year.

Analysts say prices could continue to decline.

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Ben Brockwell, director of data and pricing at the Oil Price Information Service, said gasoline prices have decreased more in the last five days than any time during the past year.

Based on the average increase during the first three months of the year, gasoline prices should have hit a national average of $4 a gallon on Tuesday, according to Brockwell’s early projections.

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http://thehill.com/blogs/e2-wire/e2-wire/221069-analysts-gas-prices-may-have-peaked