Gas prices dip

From Staff Reports

  Gasoline prices are slowly dropping at area gas stations for the first time in weeks, bringing the national average price for gasoline under $2 a gallon. Since the summer driving season has just begun for many motorists, some are worried the decline is only temporary.
  Crude oil reached a high point in late May at $42 a barrel, but prices are expected to drop down to around $35 a barrel later this year according to an official from the Energy Information Administration.
  Lower gas prices can be attributed to OPEC increasing production to level prices for the summer driving season. Prices at the pump are lower also thanks to refiners who have increased production to meet high demands.
  Supplying a third of the world's crude oil, OPEC announced earlier this month that it would raise daily production rates to meet demands of consumers. With OPEC's promise to send more oil, consumers can count on gas supplies being replenished.
   According to AAA's daily survey, called the Fuel Gauge Report, regular unleaded gas in the Tri-Cities area fell approximately one half cent from yesterday's price and seven cents from May 27, the highest average recorded for the year. Although gasoline prices are declining, rates are still up 48 cents from last year.