Gas prices set to drop ahead of Summer travel

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FILE – In this April 23, 2019, file photo, a motorist puts gas in his car at a Shell station in Sacramento, Calif. Escalating tensions in the Middle East and elsewhere could threaten oil supply, which could push the price of oil and gasoline higher. (AP Photo/Rich Pedroncelli, File)

You may want to hold off on filling up your gas tank for a bit. According to a report by Bloomberg, the price could drop by an average 16 cents a gallon nationwide. 

Gasoline prices have been sliding steadily for several weeks, and they’re promising to get even cheaper as crude prices fall and the U.S. moves into the summer driving season. According to AAA, this time last year the average price  for regular gas at the pump was $2.92 a gallon. Now, following an 18% drop in crude oil prices in New York, the average sits at $2.75 at a time of year — Spring time — when the price usually peaks in anticipation of more drivers on the road.

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