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When & How Will Gas Prices Decline???

(Photo by Christopher Furlong/Getty Images)

As many of us prep for the upcoming summer months, we also prep to pay higher gas prices at the pump. Yet, as we have seen in the past, gas prices take a spike, and then begin to decline. However, how and why do we year-in and year-out see gas prices go up and then down?CNN has a rather thorough explanation as to why we see prices peak, and then recede. It goes without saying that once gas prices are on the rise, consumers are forced to cut-back on other areas of spending. Thus, this makes economists nervous that higher gas prices can weaken the market and economy.  Still, as we saw last week, any drop in prices at the pump would be welcome with open arms.

For a thorough explanation on gas prices click HERE.

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