What have you always wondered about the economy? Tell Us

Gas prices inch down, but for how long?

John Dimsdale Apr 19, 2012

David Brancaccio: They always seem to come down slower than they went up, but gasoline prices are beginning to ease.

And Marketplace’s Washington bureau chief John Dimsdale reports there could be more relief in sight.


John Dimsdale: Gasoline futures are a good predictor of where pump prices are headed. They’ve been falling for a month and are down more than 6 percent from their high for the year.

Money managers at hedge funds and pension funds are betting gasoline prices will drop in coming months. That’s because of lower demand, in part due to a slowing economy, and partly to more efficient cars on the road.

And, Manouchehr Takin at the Centre for Global Energy Studies in London says there will soon be more supply of oil.

Manouchehr Takin: Saudi oil minister, two or three weeks ago announced Saudi Arabia would charter eleven super tankers, very large crude carriers and send oil to the United States.  So that will be two million barrels each, eleven tankers arriving in the coming weeks into the U.S.

The calendar, tho, is working against a sustained drop in gas prices. Those long drives for summer vacations always heat up demand.

In Washington, I’m John Dimsdale for Marketplace.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.