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Gas prices fell for the fifth consecutive week, just in time for the start of the summer driving season, easing fears that gas prices will top $4 a gallon this summer.
This recent decline in gas prices has led some to suggest that we may be at or at least near to the peak price for the season. But history say otherwise.
More Gas Price Increases Expected During Peak Summer Driving Season (April – September)
Gas prices have topped $7 per gallon on Santa Catalina Island, a gorgeous island off the coast off southern California.
Gas prices on Catalina Island have been averaging more than $7 a gallon for the past two weeks.
Robert Crawley, owner of Robert’s Coffee and Vending Service in Longview, TX, told the Longview News Journal his firm operates a fleet of about 20 delivery trucks and service vehicles.
Crawley said, “compared to this time last year we’re spending about $500 more a week on gasoline. So far, we’ve absorbed the expense and haven’t had to pass it along to our customers.”
Why are the gas prices so high? Industry experts cite Middle East tensions, pipeline disruptions, refinery problems, and now, the seasonal switch to the pricier summer blend.