Pump prices should keep dropping for drivers- especially in those green states (Image: Gas Buddy)
While business travelers may focus their complaints on air travel, the fact is that more of them get to their destinations by car than by plane — and there’s good news for drivers this week from GasBuddy, the website that tracks prices at the pump.
GasBuddy’s analysts are predicting that the national average price per gallon will drop below $2 by year’s end.
Monthly National Average Price per Gallon and Projections
“Last year the national average shed more than $1.27 from August 1 through December 31, when the U.S. average was $2.24,” said Patrick DeHaan, senior petroleum analyst at GasBuddy. “This year, if we see just half of that decline it will bring us to below $2 per gallon.”
Where is gas the cheapest? Look at the map above and you’ll see that it’s cheapest in the midwest and southern states, and most expensive in the west.
According to GasBuddy, supply vs. demand trends going into the last part of the year will be putting downward pressure on crude oil prices — something they expect to continue well into next year.
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“Demand for gasoline slips in autumn and winter. At the same time, refining margins are strong and with the switch to cheaper winter grade gasoline in the coming month, ample supply of discounted gasoline will be available to motorists. It’s the perfect recipe for savings at the pump till the end of the year,” said Will Speer, another petroleum analyst for GasBuddy.
You can find state-by-state pricing information and graphics at GasBuddy’s website.
How much are you paying per gallon this summer? Leave your price and comments below.
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Salvatore Johnson says
August 1, 2015 at 6:03 amI think what the article was about is that gas prices, once the summer ends, will start decreasing with record lows by December. One thing I never understood was the colorful chart, it would of been nice to put a ledger on the chart to tell us what all the different colors meant.
Jeff says
July 31, 2015 at 6:36 pmRight now with the present price of crude gas should already be below 2 bucks!
Don Nadeau says
July 31, 2015 at 5:35 pmRecord lows??? Chris, you must be even younger than you look. 🙂
richzb says
July 31, 2015 at 4:56 pmCould have fooled me…a local station in the Philadelphia area has increased their price 12 cents in the past two weeks, even though crude prices are down $10 since the beginning of July and RBOB futures are down more than 20 cents in the same time period.