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Posted: 11:11 a.m. Wednesday, May 30, 2012

Gas prices drop again, for now

By Bob Coxe

Washington, DC —

We're getting a break at the gas pump right now, but experts warn it can't last. Prices could even be heading up again by the time your vacation starts.

Right now the national average price for regular is $3.64 a gallon, $3.41 in Atlanta, according to gasbuddy.com. Tom Kloza with the oil price information service says enjoy it while you can.

"Once you get into July, you get into hurricane season, you get into the notion of more mischief from Iran," says Kloza.  "You'll probably get in to higher demand worldwide."

Kloza thinks we might even see the price drop to $3 a gallon in the southeast, before the upward pressure returns.


According to the AP,  the price of oil is headed for its biggest monthly decline since December 2008.

Benchmark U.S. crude has dropped nearly 16 percent so far in May on growing expectations that world won't use as much as previously thought this year. The futures contract fell $2.93, or 3.2 percent, to $88.08 in Wednesday morning trading.