Relief at the Pump is Coming, Say Analysts

By Sharon Eperson, CNBC News

Credit: Chuck Cook, The Times-Picayune

Relief at the Pump is Coming, Say Analysts

March 5, 2013 Updated Mar 5, 2013 at 11:34 AM PDT

It may not be fast enough for some consumers, but the drop in pump prices is accelerating.

Retail gasoline prices are down a penny overnight to $3.74 a gallon for the national average on Tuesday, which is down 3 cents from a year ago. Last month, pump prices on average were the highest on record for February.

Analysts said the gasoline price slide could continue.

"The savings could widen out to 20 cents to 25 cents per gallon this month," said OPIS analyst Tom Kloza. "The expanding gap should come as much cheaper wholesale prices work their way downstream and are compared with very steep increases that were characteristic of March 2012."

In 2012, almost every March day saw retail gasoline creep higher.

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