When you got gas this morning you probably paid about $3.79 a gallon. That's a good price compared to what we were paying nearly a month ago when gas hit $4.12 a gallon March 28. But don't get comfortable just yet. A local expert says prices haven't peaked yet.
Gas prices have been falling for the past week and a half:
Monday, April 16th -- $3.92 a gallon
Tuesday, April 17th -- $3.91
Wednesday, April 18th -- $3.88
Thursday, April 19th -- $3.86
Friday, April 20th -- $3.84
Saturday, April 21st -- $3.81
Sunday, April 22nd -- $3.80
But our expert says, it is wishful thinking to expect prices won't go up again.
IU South Bend Economics Professor Lane David says the chances of gas going higher this summer is much better than the chance of prices going down. David says there are several factors that can send prices higher including:
-Every summer prices tend to go up between 30 and 70 cents because of a federal mandate that refineries switch from winter blend to summer blend.
-The summer driving season starts around Memorial Day which is when prices tend to climb.
-Unrest in the Middle East can have a major impact on oil prices.
David predicts drivers will pay $4 to $5 a gallon at the pump this summer if the middle east doesn't have a conflict -- and $5 to $6 a gallon if it does.
So, while some are saying that gas prices peaked last month, David says, you haven't seen the worst of it yet.
"I doubt it. I seriously doubt it," says David, "Just based on historical trend, gas prices peak sometime between Memorial Day and Labor Day and on those years when they don't peak during that period they tend to peak after that period. So we still have a lot of factors to come into play."
And David says, look for gas prices to become a major political issue throughout the next several months. He says, numbers have shown that even though the President has no control over the cost of gasoline -- as prices go up, historically, the President's approval rating typically goes down.
Here are some things you can do to save gas on a daily basis according to GasBuddy.com: http://www.gasbuddy.com/GB_Fuel_Save.aspx