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Experts say the cost of fuel should soon go down

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POSTED: Wednesday, May 7, 2014 - 9:00am

UPDATED: Wednesday, May 7, 2014 - 9:04am

Much of America watched helplessly as gas prices climbed over the past few months, forcing drivers to spend about $11.7 billion more filling up this April than they did at the same last year.

Now analysts say gas prices are falling after a hitting a peak last week of about $3.70 a gallon for regular unleaded.

Prices have already dropped about three cents a gallon and will continue to fall according to Michael Green of AAA.

"Most people should be paying less for Memorial Day than in recent years," Green says.

Analysts say there's a small chance the national average could even dip below $3.25 a gallon this summer.

Green says increased production is driving the drop in prices now that refineries have completed their yearly spring maintenance and reformulated their gas for summer.

Read more: http://nbcnews.to/1nhuWcG

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