Omaha Public Radio News
3:12 pm
Fri May 20, 2011

Gas prices not likely to climb much higher

Omaha, NE – For many, summer vacation means hitting the open road.

An assistant professor of economics at Creighton University says that increased demand for gas means an increase in gas prices. John Deskins says the trend of rising gas prices in the summer is not a new one. But for those who are concerned about gas that's rapidly approaching and in some cases, surpassing the $4 a gallon mark, he says there is some good news, "As we go into late summer and fall, I would expect gas prices to fall. As the summer driving season ends and as the fear of supply disruption subsides, I expect gas prices to actually go back down. I don't know if they will go back down all the way to where they were a year ago, but I certainly don't expect these near $4 a gallon prices to continue indefinitely. Again, that is absent any other unexpected shock."

According to AAA's daily fuel gauge report, the average price for a gallon of regular gas in Nebraska is $3.95. That's 50 cents higher than the price two months ago.