Goss Predicts Eventual Gasoline Price Decline
Creighton University Economist Ernie Goss says he expects gasoline prices to begin to decline by the end of this year, although he says the prices will likely remain high through the summer travel season. Goss says he thinks oil prices in 2012 may follow a similar pattern to 2008, when the price of oil peaked at around $147 per barrel. Goss says by the end of 2008, that price had dropped to around $40 a barrel, with a corresponding drop in the price at the pump. But even though he expects the price of gas to drop eventually, he says the expected high prices over the summer could hurt Wyoming's tourism industry in 2012.