COLORADO SPRINGS, Colo. (KKTV) – Drivers saw a 5 cent decrease in gas prices this week, but experts believe it may be short lived.
AAA cites this drop as “market jitters” as oil traders speculated about a recession. This causes them to stop trading which lowered the price of crude oil by 20%. Crude oil makes of 60% of what you pay at the pump.
Experts say gas prices will likely go up and remain steady throughout the summer, and if they did continue to drop it would mean trouble for the economy.
AAA Region Director of public Affairs Skyler McKinley had this to say about gas prices,
“Volatility is going to be the name of the game for this summer and certainly through Labor Day”
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