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Economist: Gas prices won't top $4
Updated: Wednesday, 23 May 2012, 8:17 AM EDT
Published : Wednesday, 23 May 2012, 8:17 AM EDT
WEST LAFAYETTE, Ind. (AP) - A Purdue University economist is predicting that gasoline prices likely won't top $4 a gallon in Indiana during the summer travel season.
ONLINE EXTRA | Check gas prices in your area.
Purdue agricultural and energy economist Wally Tyner says Indiana's gas prices will likely remain between $3.50 and $4 per gallon over the summer. But he says that prediction will only hold true if there's no new turmoil in the Middle East or heightened tensions with Iran.
He tells the Journal & Courier ( http://on.jconline.com/JRVlth ) the political situation in the Middle East and U.S. relations with Iran will play a large role in what motorists pay to fill up this summer.
But Tyner says severe weather, the Greek economic crisis and China's apparent economic slowdown could also drive gas prices up or down.
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