Gas prices have finally stopped their relentless, daily rise. The AAA Fuel Gauge figure for a gallon of regular based on a nationwide average was $3.932 yesterday, down a tick from the prior day’s $3.936 and $3.925 a week ago.
Some experts believe that regular gas will not reach much above $4, if there is no catastrophic event in Iran. There are still concerns that the Iranians may try to block the Strait of Hormuz because of an oil embargo, set by the US and EU because of the nation’s arms program.
On the other hand, it is not known whether the Saudis will increase supply further if there is an interruption from elsewhere in the Middle East. In addition, a number of refineries are off–line including some in the US.