Decline In Gas Prices Could Continue Through Summer

Apr 28, 2013 -- 12:29pm

The ongoing decline gas prices this spring could continue into the summer.

AAA Mid-Atlantic says the national average for regular unleaded is $3.50 a gallon. That's down two cents from a week ago, and 29 cents from its peak eight weeks ago. In Delaware, the average for regular is $3.36, down a penny over the last week. In southern New Jersey, regular held steady at $3.23, and on the Eastern Shore of Maryland, regular is also at $3.23, down more than four cents from a week ago.

AAA says increased domestic oil production, low demand, disappointing economic news and lower crude oil prices have all contributed to the decline in gas prices over the last several weeks. Oil industry analysts believe the national average could drop below the $3.50 mark soon, and could even drop below last year's low of $3.33 around Fourth of July weekend.

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