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Gas Prices Expected To Be Lower For Memorial Day Weekend

Posted: 2:49 PM May 21, 2012
Reporter: Anthony Sabella

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They're something you hear about all the time and with Memorial Day weekend signaling the beginning of the vacation season, the usual concerns are there.

"Here in May, June, July, we typically see some of the highest prices of the year", said Michigan Petroleum Association President, Mark Griffin.

Although prices are currently trending down, Griffin says it is difficult to determine how long they will stay down making it difficult to plan vacations.

Earlier this year, many predicted the price of gas to be over four dollars a gallon, but, as of Monday, national prices currently sit at around $3.70 per gallon.

According to Gregg Laskoski of gasbuddy.com, there are many reasons for the high projections early on.

"The situation in the Middle East with Iran and its nuclear program," said Laskoski. "That was one of the things that was driving crude oil prices higher."

Laskoski also said that current negotiations between the United Nations and Iran have helped bring gas prices down to where they are now. The current national average for gas is almost 14 cents lower than last year.