Analyst: Gas prices might be peaking

Gasoline prices are rising more slowly and might have reached their peak, according to a widely cited analyst.

High prices have become a top issue on Capitol Hill, and the White House has ramped up its focus on the matter.

But a plateau in prices, if that indeed comes to pass, might somewhat lessen the topic’s political currency.

Reuters reports on the latest survey Sunday by the analyst Trilby Lundberg, who found that average prices have risen 11.5 cents per gallon over the last two weeks — a smaller rise than prior weeks.

“There is some possibility that prices might already be peaking,” Lundberg tells the news service. “It would be going out on a limb to make any prediction now ... but if there was a plateau, this might be the end or close to the end of gasoline price increases.”

CNN reports that Lundberg believes “prices may peak well before the summer driving season,” and that “they may even be peaked right now.”

The Lundberg survey finds that prices are averaging $3.88 per gallon nationwide, which is roughly consistent with other surveys.

Average prices reached their all-time high of $4.11 in July of 2008, and Lundberg tells Reuters there’s a “very good chance” that they will not reach that level this year.