Analyst: Recession could help lower gas prices
Many drivers may be hoping to pay less at the pump as the warm weather approaches. However, one analyst feels a recession is the best way to achieve lower gas prices.
Risk management company Cameron Hanover President Peter Beutel says gas prices will continue to rise and could even rise 25 cents by spring. Beutel says the only way prices will decrease is if one of three things occurs: if there?s an economic recession, if officials become more adamant about conservation efforts and cut the demand or if the supply itself increases.
According to Beutel, drivers should be hoping most for a recession.
?If there is a recession ? it would slow oil prices,? Beutel says. ?That would be our best bet for hope for low gas prices and steady economic growth.?
Meanwhile, experts say commuters looking to save money should start carpooling.
News12 Connecticut Gas Gauge