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.
“What this could potentially mean for motorists is that prices could take a bit of a breather or they might fall,” said Patrick DeHaan, senior petroleum analyst at gasbuddy.com.“Traditionally, every spring we see prices rise like this,” DeHaan added. “They tend to peak in late spring.”
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.