Gas prices decrease, future prices weigh on Middle East
For the first time this year, Michigan motorists are paying less for a gallon of gasoline than they did in 2000.The cost of self-serve regular gasoline plummeted 7.1 cents to $1.47 - nearly three cents a gallon less than during this week of last year, according to a AAA Michigan gas study released this week.AAA spokesman Jim Rink said a slowing economy is helping motorists save at the pump.If the economy continues to slow down as it has been, then the overall world oil market will probably feel that and respond by lowering prices, he said.However, there is evidence indicating that gas prices could rise again, he said.The Organization of Petroleum Exporting Countries will be meeting in March to talk about production cuts, and if that happens, that will increase gas prices, Rink said.