Get happy! Gas prices are falling
Wed, 09 May 2012 22:05:38 GMT —
In the past two weeks, the national average for a gallon of gas has dropped more than seven cents.
"I was happy about that because every penny I save is another penny I can put in the bank," said Judy Shields of Myrtle Beach, and she's not the only one in a good mood due to the decreasing gas prices.
"To see them come down gives everybody a little relief," said Myrtle Beach resident Tim McCrae. "Better than seeing them go up every week two or three cents or ten cents in a day time some places. "
The trend of falling gas prices is exactly the opposite of what speculators said last month.
Experts believed the price of fuel could reach $5 a gallon by Memorial Day. Now, they are backing down from those estimations.
"Makes you wonder why they told us it was going up in the first place," said Jaselene Peck of Myrtle Beach.
A Lundberg Survey says gas prices are falling because of Europe's weak economy and Americans lowering their demand for oil.
Wednesday, the average price of fuel on the Grand Strand was $3.45. That's 30 cents less than a month ago.
"I'm gonna go broke putting gas in the car," said Shields jokingly. "So I'm happy its going down"
The national average for a gallon of gas is $3.74.