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May 6, 2011

Could this be the crest of the gas price wave?

Could it be that gas price flood waters are about to recede?

After months of steady increases, the average price of a gallon of regular dipped slightly Friday, according to AAA Mid-Atlantic.

We're not talking about anything dramatic here, but that price dropped four-tenths of a cent between Thursday and Friday -- going from $3.986 to $3.982. By itself that wouldn't mean much, but crude oil prices have been declining this week after last week's killing of Osama bin Laden. And on Thursday the price of crude -- the biggest factor in gas prices -- took a tumble of nearly 10 percent.

If this does prove to be a market top, prices would fall short of the 2008 Maryland record of $4.05. Stay tuned. The next week could tell whether travel will be constrained by gas prices or freed up by an otherwise expanding economy. 

 

Posted by Michael Dresser at 9:49 AM |
Categories: On the roads
        
About Michael Dresser
Michael Dresser has been an editor, reporter and columnist with The Sun longer than Baltimore's had a subway. He's covered retailing, telecommunications, state politics and wine. Since 2004, he's been The Sun's transportation writer. He lives in Ellicott City with his wife and travel companion, Cindy.

His Getting There column appears on Mondays. Mike's blog will be a forum for all who are interested in highways, transit and other transportation issues affecting Baltimore, Maryland and the region.
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