US Average Gas Price Per Gallon Falling To $3.15 By Year-End
Once upon a time, a gallon of regular could be had for under $3. Then, prices climbed as reduced production and geopolitical uncertainty played their respective roles. However, 2014 could feel like 2010 again as prices tumble back down to $3/gallon.
A report issued by GasBuddy last week forecasts that the average national price for a gallon of regular could fall between $3.15 and $3.25 by the end of the year, with 30 states expected to pump gas for prices below $3/gallon during the period.
The report bases its forecast on three factors: the transition from summer to winter-blend gasoline, the latter easier to produce by refiners; lower crude prices per barrel, led in part by boosted production in areas such as Alberta and North Dakota; and a combination of overall lower consumption over the autumn and winter months, more fuel-efficient vehicles on the road, and fewer younger drivers hitting the road.
Right now, 17 states in the South, East Coast and Great Plains already have stations delivering gas at $3 or less per gallon, with the Springfield, Mo. Metropolitan Statistical Area holding the lowest average at $3.005/gallon. Meanwhile, the West Coast will likely keep the highest prices per gallon during the period, though said prices will see the most severe drops through November and December.
Finally, though 2010 is considered a convenient reference point, GasBuddy states this season’s average won’t match that year’s low point, when the average price/gallon was $2.828.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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