Little change seen in gas prices this summer
Gas prices nationwide are expected to average $3.57 per gallon this summer, a penny below last summer, according to the Energy Information Administration (EIA). The slight decrease is thanks to lower crude oil prices. Diesel will average $3.87 per gallon.
We see a small increase in gasoline consumption, and thatês mostly a little bit of growth in vehicle miles traveled as the economy continues to come back from the big problems that existed for our economy and employment in the second half of 2008 and into 2009, said EIA Administrator Adam Sieminski, according to The Hill. Fuel economy improvements should offset much of the increased fuel consumption.
The projected price of fuel would be the lowest average for the summer peak driving season since 2010. The average gas price for all of 2014 is projected at $3.45, dropping to $3.37 in 2015 and down from $3.51 in 2013.Download Bulletin PDF