Relief at the pumpsFinally, a break at the pumps for local drivers. A UND economist says gas prices dropped in the month of March for the first time in about a decade.
By: Adam Ladwig, WDAZ
Finally, a break at the pumps for local drivers. A UND economist says gas prices dropped in the month of March for the first time in about a decade.
Gas prices have dropped recently and they're not expected to increase much the rest of the year, but that doesn't mean local drivers are rejoicing at the pumps.
Cullen Goenner, economist: "One of the surprising things that we've seen here in March is that prices have gone down on average, across the nation, of about 15 cents per gallon."
Goenner says it's rare for gas prices to drop this time of year.
Cullen: "Typically during the spring time people start hitting the road more and we tend to find that gas prices go up."
Gas locally costs anywhere from $3.55 in Grand Forks to $3.65 in Devils Lake, but drivers aren't praising the gas gods just yet.
Goenner says the price drop is a market correction after prices jumped during the winter.
Cullen: "We've kind of been seeing a bit of a yo-yo going on when it comes to gas prices all the way to last winter."
But he says gas should remain relatively stable going into peak driving season.
Cullen: "I would expect to see 3.60, 3.70 for the price of gasoline this summer."
Local drivers say the cost of gas won't affect their travel plans no matter how high or low it goes. The price of crude oil will have the largest effect on the cost of gas going into the summer, but crude prices have been relatively stable throughout the winter and gasoline prices have been bouncing both up and down.