Gas prices on the way down

WEST SPRINGFIELD, Mass. (WWLP) - Just a couple months in, 2013 has already been a tough year financially for many people, especially with gas prices that jumped 49 cents per gallon.

That was the highest price increase on record.

Gas prices began at $3.29 per gallon at the beginning of 2013.

Then the prices went up 46 days in a row to $3.78.

One reason for the price hike was refineries shutting down in January and February for seasonal maintenance and equipment upgrades.

That resulted in the lowest rate of crude oil processing since April 2011.

And decreased production means fewer supplies, which in turn means higher prices.

Now that we are in March though, these refineries are back in action.

AAA is expecting prices that right hover over $3.60-$3.70 to drop soon.

We have seen that decrease already with a 7 cent drop this week.