(WSYR-TV) Yes, gas prices are still high, but have you noticed prices are declining as of late? It is a slight drop, but according to AAA, the national average for a gallon of gas sits at $4.92. Last week, the average sat at $5.00.

What is causing the recent dip and will prices continue to fall?

GasBuddy’s lead Petroleum Analyst, Patrick De Haan, said he anticipates gas prices will continue to fall between now and July 4. The drop could be as much as 15 cents per gallon.

He said there are several factors driving down costs right now, including refineries pumping out more supply and the feds raising interest rates. He said the rise in interest rates causes concern for an economic slowdown. He said those fears often bring oil prices down.

De Haan said with how volatile the market is currently, you cannot predict oil price trends long-term.

“Finally, it looks like we rounded somewhat of a corner, I don’t want to say we are in the all-clear yet, of course, we are in the midst of hurricane season and as we progress in August we enter into the peak of hurricane season and there is still a possibility we get a super spike later this summer,” Dr. Haan said.