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Conflicting Opinions on Gas Prices


UNDATED  (WKZO) -- Have we seen the peak in gas prices for this year?

GasBuddy-dot-com’s Patrick DeHaan thinks so, after crude oil prices plummeted ten dollars Thursday in the commodity markets.  

But analyst Peter Beutel thinks there is only a 20 to 25% chance that prices have peaked - that this might just be a blip.   He believes there is no way of telling how fast the prices paid at the pump will come down.  

DeHaan thinks west Michigan could see prices slip below $4 a gallon before Memorial Day, closer to the national average which is also below $4.

Just how far it falls and whether it will go back up could depend on whether or not that drop in the commodities market was a blip.

Unrest in Libya, gas supplies in the U.S. are low, the global economy continues to recover and global demand continues to rise...all factors that aren’t favorable for generating lower prices.