Kiplinger Today

Kip Tips

What to Expect of Summer Gas Prices

It was hard to miss last weekend's gas prices. They rose just enough to bring back memories of last year's run up. But you can put your fears aside.

In our most recent forecast, Jim Ostroff of the Kiplinger Letter follows trends in crude oil and gas prices through early fall. All you need to know is that gas prices won't creep too far above $2.50 gallon. Here's why:

". . . Expect more or less the same pattern for gasoline prices: First, up another 20¢ to about $2.50. Kilduff notes that in the current economic climate, motorists will cut back if prices get much above that level, acting as an automatic brake on further price hikes. Following the July 4 holiday weekend, prices should drift down until Labor Day. A brief uptick for end-of-summer road trips is probable. Then, prices will stabilize till November or December."

Read Jim's full forecast: Commodity Prices Won't Go Much Higher

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