The Impact Holiday Weekends Have on Gas Prices (NBC33 VIDEO)

By Eric DeFreeuw

May 22, 2013 Updated May 22, 2013 at 7:00 PM EDT

FORT WAYNE, Ind. (www.nbc33.com) – With another three-day holiday weekend looming, area travelers do not appear to be looking forward to the costs of traveling. Especially as gas prices creep closer and closer to $4.00 a gallon. Yet experts believe rising prices may not be the case for long.

As of Wednesday morning the average cost of gas in Indiana was $3.84, which is nine cents higher than this point last year. In fact, gas prices in the Great Lakes region, which mostly encompasses our surrounding states, rank as some of the highest in the country. In fact Chicago recently surpassed Minneapolis-St. Paul for the highest in the nation.

Despite factors like weather, geo-political activity, and the value of the US dollar playing into how prices fluctuate, petroleum experts like Gregg Laskoski with GasBuddy thinks the Memorial Day holiday surprisingly may not.

"I know that it's customary, a lot of people just automatically assume that because its a major holiday weekend there's got to be a gas price increase. Believe it or not there have been many years when prices either stayed flat or even declined. We could see some parts of the country that have relatively little activity price-wise where they could stay flat and in other areas we could see either a nominal increase or a nominal decrease. And I think that's probably what's likely in Indiana."

Laskoski says while it’s hard to pin-point an exact time when prices may drop, he believes it could happen within the next week or two.




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