Gas Prices Don’t Go Lower Until The Summer Driving Season Ends

Gas prices are a fact of life in the modern world

It’s something we all have to deal with, whether we own a car, truck, or even horse! At the personal level, rising gas prices means that each of us pays more at the pumps, leaving less for other items and services. Inversely, when gas prices drop, it’s cheaper to fill the tank again for both businesses and families, and actually facilitates lower costs on transportation-related industries such as airlines and trucking companies… In a time when everything is tightening the purse strings, many are looking to lower their gas expenditure to save money. If you’re one of the lucky few that doesn’t own a truck, you’ll be pleased to know there are some budget-friendly ways to get around town without burning a hole in your wallet.

Of course, we can’t talk about saving money without first talking about the average price of a gallon of gasoline in your area. You’ll quickly learn that in most parts of the United States, gas prices have gone up since June of 2008. In some areas, they’ve gone up so much that they aren’t affordable to most drivers. Fortunately, if you live in the areas mentioned above, you’re still not alone. In fact, the average price of a gallon of gas has actually dropped by a penny!

holding its own against gas prices

That “one penny” drop in the cost of gas has inspired many to start driving smaller cars. On top of that, the smaller vehicle market in the United States is currently holding its own against gas prices. As of this writing, according to the AA, the average American is driving an average of 9 miles per gallon. While these numbers are steadily rising for some, they are way lower than those in years past. One of the biggest reasons that gas prices are staying where they are right now is because of the weak economy in the United States. With unemployment topping out over 10%, gas prices have become extremely affordable for all drivers across the country.

The recent news has also played a big part in the relatively stable gasoline prices we have today. There was a report released early in July that indicated that the United States was on track for a jump in crude oil demand due to unrest in Middle East countries. Crude oil, which is used to lubricate turbines and increase gas mileage, is actually in short supply right now due to the ongoing conflict in the Middle East. This news followed by another report that suggested the United States would not see a rise in gasoline demand until at least the end of 2012.

gas prices remaining relatively consistent

If the recent reports are any indication of what we can expect for the rest of the summer, we can expect to see gas prices remaining relatively consistent. There is a chance, however, that prices could go up slightly as demand increases slightly. That’s because the cost of the crude oil that is produced from the U.S. wells has risen above the national average. In addition, this summer will likely be a wet summer, meaning there will be more rain in the area that supplies the gas you use. While this won’t affect how much you pay for gas, you may find it does raise the cost of your monthly tank of gas.

As the summer winds down, the price of oil should fall to an all-time low. As this occurs, the cost of gasoline should remain at its current level, which means you should be able to get a good deal on your next gallon. However, if you’ve been saving up for the summer, you might want to wait until the prices start going back down to where they are on a regular basis before you fill up.

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