Gas prices have fluctuated upwards over first few months of the new year, and many have been hoping they would lower. As Summer approaches, we are finally seeing gas prices turn around and show some signs of life. It has now been reported gas prices will get cheaper in the months to come.
It has been forecasted by the Energy Information Administration that we will pay less at the pump this coming Summer reported CNN Money. The agency estimates the average price for gas will roughly $3.63 per gallon. This beats out the average around this time last year of $3.69. The EIA even projects cheaper gas prices next year, which we could very well experience a full-year average price per gallon of $3.39. This would definitely make many drivers and transportation companies very happy.
One reason prices will be kept low is due to more fuel efficient cars on the highway. Another reason is the increase in oil production in North America. The economic recovery of the US will more than likely be aided by the cheaper gas prices. Consumers will be able to have more money for spending this summer. This will also affect lower traveling costs for consumers and airlines. The affect of gas could be just what the economy needs to make a big leap for the the remainder of the year.
This highest year average on record for the US was in 2012 at $3.69 per gallon. In 2008, the US experienced its' most expensive driving season with an average of $3.81 per gallon. AAA also reported the highest daily price on record of $4.11 a gallon on July 17th that same year. The current national average for gas is $3.58, which is down from $3.69 last month. California and Hawaii have the highest current average, toppling over the $4 mark.
Gas prices decreasing is great news compared to a couple of month ago. In February, the price of gas increased for 32 consecutive days. The national average of almost $3.75 per gallon and analysts forecasted the prices could impact the US economic recovery. Known oil producer Brent Crude Oil reached its' highest oil price in nine months at $119.17. Along with projected oil production shortages, many felt gas prices could eclipse $5 per gallon this Summer.
With gas prices getting cheaper, businesses can continue to save on their transportation costs by using a courier. Same-day couriers like A-1 Express are a viable option instead of using employees for daily deposits, part distribution and time-sensitive deliveries. Even with lower gas prices, this Charlotte courier can perform same-day deliveries at a lower cost because of route optimization and transportation expertise. A-1 Express can create a courier logistics solution specific to your same-day delivery needs.
Reference: 4.9.13., CNNMoney, Chris Isidore, You'll pay a little less for gas this summer