Oil In April 2000
By: tito
E-mail: .
W A S H I N G T O N, April 6 — The good news for consumers is gas prices are anticipated to drop this summer. But the bad news is the decline will be slow. With an increase in international oil production as a backdrop, the Energy Department today dramatically revised its forecast for summer gasoline prices. The agency said prices should peak later this month and begin dropping sometime in May, averaging about $1.46 a gallon throughout the summer. Even Cheaper Fall Prices And there's even more good news: Gasoline prices may dip lower still by fall, according to the agency. Prices may fall to a national average of $1.39 after Labor Day, the department's Energy Information Administration said in its revised short-term forecast. "By then I expect we will have started to see some economic growth deterioration and I think from there we probably will see demand start to come under some pressure," said Peter Beutel, president of Cameron Hanover, an energy risk......
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