Have Gas Prices Finally Peaked in 2012?

Could motorists finally start to experience some relief at the pump?

AAA reports that may be the case.

The national average cost for a gallon of regular unleaded was $3.86 on Sunday, a five-cent decline from a week ago and the same price as a year ago, according to the latest AAA survey.

In Maryland, the average cost for regular unleaded gas on Sunday was $3.91 a gallon, a six-cent drop from a week ago and just four cents more than a year ago, the survey continued.

AAA reports that prices at the pump have fallen 12 days in April, a shift from previous months this year when prices trended upward with a fear of shattering the all-time record high average price of $4.11 set in July 2008.

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Weaker than anticipated U.S. unemployment figures, a drop in home re-sales and Iran’s decision to negotiate over its nuclear program all factored into the price decline, according to a AAA news release.

If prices have peaked for the year, it will mark only the second time in the last 20 years that has occurred before mid-May. The last time prices peaked this soon was Jan. 12, 1998, when it reached a high of $1.08 a gallon.

Here are some of the cheapest gas prices in the Essex-Middle River area, according to Patch’s gas price tracker and MarylandGasPrices.com:

Gas Station Address Price for Unleaded 724 Eastern Blvd. $3.71 1023 Eastern Blvd. $3.77 35 Back River Neck Road $3.77 1010 Old Eastern Ave. $3.79 1600 Eastern Blvd. $3.79