While many consumers have been worried about the possibility of paying near-record prices at the pump this summer, it looks like that may not be the case. The price of gasoline futures traded in New York City has fallen significantly in recent weeks, and experts believe the downward trend in gas prices will continue, according to CNN Money.<\/p>\n
The futures, which help set prices for gas, dropped from $3.40 to $3.10. The significant fall will likely start to be reflected at the pump sometime in the coming weeks. It's certainly good news given that drivers are nearing one of the busiest driving seasons of the year. Analysts believe the drop in prices is tied largely to the fact that crude oil has decreased by about $5 in price over the course of April.<\/p>\n
"We're certainly going to see prices move lower at this point," industry insider Stephen Schork told the news source.<\/p>\n
The estimates are good news, especially given that gas prices have already been trending downward. After reaching a nationwide average of $3.95 in early April, the average price of a gallon has dropped to $3.84, and with more reductions expected, motorists may soon feel a little bit of relief.<\/p>\n