Pre-Summer Gas Prices Dip as Demand Sags

Fuel prices traditionally go up as we head into summertime ... but in the past few weeks, they've actually been going down.

Demand for gasoline fell during the first three months of the year, creating a glut in supply.

But Tom Kloza, an energy analyst for the Oil Price Information Service, says that gas prices may very well rebound by mid-month and then rise later this summer.

He says we could see a price bump of 10 to 20 cents a gallon.

Kloza’s prediction would be good news for Gulf Coast refineries, which rely on an annual rise in demand.

Newer cars with better fuel efficiency are seen as one reason for the dip in fuel demand.

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