And we were worried about $4.00 gas!
MINNEAPOLIS -- Matt Wolf chuckled when we told him we were doing a story on gas prices as he filled up at the Downtown Minneapolis Bobby and Steve's Station.
"I don't look, I don't look at the price as it goes up, I just fill it up. I close my eyes," he said, with another laugh.
Analysts say things are looking up for the consumer; many predict we'll be paying 50 cents less for a gallon of gas this summer. "There's a saying in the trading community. High prices fix high prices so that process is underway now," Kevin Ferry with Cronus Futures Management said.
"Gasoline prices right now are peaking and as we go through the summer they will begin to decline," Andy Lipow of Lipow Oil Associates predicted.
"The good news about high gas prices, when I get to a campground, most of the time I don't need reservations because nobody else is dumb enough to spend the money on gas to go camping," Curt Hoyt said jokingly as he set up shop at the KOA Campground in Maple Grove.
Hoyt and his wife Peggy were on their way from the Philadelphia, PA area to Alaska. They figured on spending about $8,000 on gas. "Peggy said we'll just have vegetables for dinner, we'll skip the meat," Curt said with a smile.
The price at the pump drop could save the Hoyt hundreds as they cruise across the country.
Analysts released the good news for consumers after a week on the trading floor that brought down the price of a barrel of oil by 15%.
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