Gas prices to drop soon?

Perhaps if these indicators continue to hold that show that currently there is anemic growth in demand and a jump in refinery activity. At the pump, meanwhile, gas prices rose 0.5 cent overnight to a national average of $3.096 a gallon, according to AAA and the Oil Price Information Service. It was the second increase in as many days, though prices remain 1.6 cents below their most recent peak.

Analysts say gas prices are likely to remain flat or even fall unless oil rises to $100 or higher. Gas prices hit an all-time record of $3.227 a gallon in May.

Demand for gasoline continues to rise, but at an anemic rate, analysts say. Gasoline demand rose last week by 134,000 barrels, and is up 0.4 percent over the last four weeks compared with the same period last year, the Energy Department's Energy Information Administration said in its weekly inventory report. That's well below the historic average year-over-year growth rate of 1.5 percent, analysts say.