Let The Gouging Begin? Gas Prices May Have Finally Peaked

When people think of price gouging, they tend to think of people raising prices opportunistically. In fact, the most common type of gouging happens when gas prices stay artificially high after a spike. Still, we suppose the beginning of gouging season is better than nothing. But is it really here?

New numbers released overnight by AAA Fuel Gauge Report indicate that the nationwide average retail gas price declined $0.02 to $3.927. Some analysts are responding with guarded optimism.

“Gasoline prices in the hardest-hit areas have finally shown signs of relief with prices falling now in Chicago as they have for a few weeks in California,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com told the LA Times. “We may see an earlier peak than we have in prior years.”

We’ve been following the Energy Information Administration’s numbers, which showed $3.996 as the average national retail price for the week ending April 2. Hopefully, the next report will concur with AAA — and that the initial dip is the beginning of a longer, downward trend.

Gasoline prices may have finally peaked for now [LA Times]