Expert: Economy Pushing Gas Prices Down to Summer Lows
Gas prices are falling in time for the Labor Day holiday weekend.
KYW's Mark Abrams reports that AAA Mid-Atlantic's Jana Tidwell says the price at the pump is the lowest it has been all summer:
"Gas prices for the third, three-day weekend of the summer are the lowest out of the three weekends so we actually saw them peak back at Memorial Day weekend back at the end of May."
She says there are a couple of reasons for the decline.
One, world oil prices have been relatively stable. Two, domestic crude stockpiles are at their highest in 20 years. Three, Tidwell says demand for oil and gas is down, and the fourth, the slumping economy.
