Summer Gas Prices To Hit Lowest Point In A Decade, Experts Predict — Hit The Road, America!
Planning to hit the open road this summer? You’re in luck. Gas prices will plummet to their lowest point since 2005, according to new reports from leading travel organizations who track the prices of gasoline nationwide.
Both AAA, the national auto club, and the site GasBuddy.com, which keeps track of gas prices from all 50 states, report that pump prices are on the way down and won’t level off until summer travel season is underway.
The governmental Energy Information Administration agrees that gas prices this summer will hit a decade low, but sees the projected price slightly higher than the two private groups. According to the EIA, a gallon of gas will cost American motorists $2.45 during the summer months.
The AAA group and GasBuddy see the price dropping a bit lower, to a nationwide average of $2.35.
“Unless there are new regional refinery issues or global crude prices turn markedly higher, drivers can expect to see pump prices continue to slide leading up to the start of the summer driving season,” said the AAA group in a statement with its latest Fuel Gauge Report.
“We’re confident in our projection that the summer of 2015 will see the national average come in at a seasonal level we haven’t approached since 2005,” added GasBuddy Senior Analyst Patrick DeHaan.
The lower summer prices continue a steady trend of plunging costs at the pump. In fact, this week, average nationwide per-gallon prices are a full $1.19 lower than they were at the same time in 2014.
According to the latest GasBuddy data made public on the group’s online site, the state with the lowest average gas price at the present time is South Carolina, where drivers are shelling out just $2.089 on average for gas.
California, a state where the car is king, currently sees the highest average gas prices in the 50 states, with a gallon typically running motorists $3.099.
Not surprisingly, then, the top 14 United States cities when it comes to paying the most for gas are all in California, with San Francisco leading the way with the nation’s highest prices — $3.282 per gallon on average.
Los Angeles places fourth with a $3.141 average price per gallon according to current GasBuddy data.
In fact, 17 of the top 18 most expensive cities for gasoline are Californian, with the streak interrupted only by Honolulu, Hawaii, at Number 15, with a $2.964 average gas price.
Chattanooga, Tennessee, with gas prices of $2.032 per gallon is the lowest — and it’s not even summer yet.
[Image: Justin Sullivan/Getty Images]
