--Finally some good news for local motorists: Gas prices are dropping.
Mo t o r i s t s ac ro s s California can expect the average retail gas price to drop to $4 per gallon or less in the next few weeks, said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.
Average gas prices in San Bernardino County dropped 5.3 cents in the past week, averaging $4.17 on Sunday, according to GasBuddy.com. They were 1.5 cents higher than a month ago.
"It's likely that (the prices) are going to fall not just in San Bernardino County but in California," DeHaan said.
Gas prices surged in recent weeks, DeHaan said, partly because speculative investors overbought oil, and the gas prices finally topped.
Inventories of crude oil are very high, and the U.S. Department o f E n e rg y re ce n t l y announced an increase in gasoline inventories as well, cooling the speculative market, DeHaan said.
Gas prices traditionally peak in May before refineries go into full production of cleaner-burning gasoline used during the summer, he said.
The national average has slightly increased by 0.3 cents in the last week to $3.93.
DeHaan said the likelihood of $5 gasoline is remote at this point. He added that concerns about the loss of oil supply from turmoil in the Middle East have diminished because of the increasing inventories.
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