Energy Analyst: $2.50 A Gallon Gas This Summer ‘Very Possible’

May 16, 2014 6:30 PM
Energy Analyst: $2.50 A Gallon Gas This Summer ‘Very Possible’
" BOSTON (CBS) – Driving may be easier on the wallet this summer, according to one energy analyst.

John Kilduff, a founding partner at Again Capital in New York, said we could be in for a big drop in gas prices.

“There’s a lot of oil waiting to hit this market, from the United States, where our production keeps rising, and even Iran and Iraq for that matter, where we’re seeing productions soar,” he told WBZ NewsRadio 1030 Friday.

“It could be a cheap summer.”

Check: Best Gas Prices Near You

Crude oil prices were at $101 a barrel in New York Friday, but Kilduff said that could fall to $75 a barrel or lower, which could bring gasoline prices down significantly.

“If we got down to $75 on crude oil, you would see a U.S "

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