Friends and neighbors who are taking to the road this weekend will find rejoice. The prices at the pump are moving in a different direction. They are actually lower that they were last month.
US consumers are finally feeling less pinched by gas prices. The average national price for a gallon of gas is $3.54, which is 40 cents cheaper than the year's peak price in early April.
If gasoline prices continue to stay low, most people are likely to spend more freely this summer on many other goods, from cars to furniture and from electronics to vacations. Gas purchases tend to provide less benefit for the U.S. economy because some of the money goes to oil-exporting nations.