Nightly News   |  May 08, 2012

Plummeting oil prices lower cost of gas

Gas prices were down for the fifth week in a row, hitting an average of $3.79. NBC’s Brian Williams reports.

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This content comes from a Full-Text Transcript of the program.

BRIAN WILLIAMS, anchor: A quick word on gas prices in the news tonight. They are down for the fifth week in a row, hitting an average of $3.79 a gallon this week. That's down almost 4 percent from the recent high of 3.94 that we hit on April 2nd . Oil prices have been plummeting on plentiful supply and concerns about the economy here and in Europe. It all means we may not see the apocalyptic predictions of $5 a gallon gas this summer.