Good news drivers: All those factors that can make your gasoline more expensive are now coming together to make it cheaper.
“Gas is about 34 cents lower now than last year, and even last year prices were barely above the $3.00 mark,” observed Patrick De Hann with GasBuddy.
Around the state, gas prices average slightly above $2.70 a gallon and De Hann predicts pressure for them to go lower still.
“Barring an exceptional event like a major hurricane in the gulf, Gas prices should remain below $3.00 a gallon, really, for much of the rest of the year.”
De Haan points to plentiful supplies and a regulatory environment friendly to energy production. At the same time, uncertainty about the economy is making some Americans throttle back on their driving and travel plans, which means less consumption, and more downward pressure on prices.
“Good times, mean more consumption,” De Haan explained. “Generally, a good economy means upward pressure or higher prices, whereas lower prices really can be a sign of an economy in distress.”
Even as turmoil surrounding Iran calms down De Haan points out that sanctions against Iran and uncertainty in the Middle East have been priced into the oil market already.
Photo: Maskot