GAITHERSBURG, MD (April 9, 2015) – Motorists will be driving for joy when they learn GasBuddy is projecting that this summer’s gasoline prices will bring the most affordable summer months since at least 2005.
While it may sound wild, GasBuddy projects that the summer driving season of 2015 (Memorial Day through Labor Day) will see the U.S. average price of gasoline come in around $2.35 per gal, a revision from its 2015 forecast it released last December. A recent Energy Information Administration projection pinned summer gasoline prices at $2.45/gal. Both numbers would represent the lowest summer prices in a decade.
“That means more Americans can afford to pack up and go enjoy a summer getaway because the cost of getting there will likely be the lowest since 2005,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “The latest data from the EIA showed the largest week-to-week buildup of crude oil (10.9 million barrels) since March 2001 and that underscores the downward pressure on fuel prices. So we’re confident in our projection; that the summer of 2015 will see the national average come in at a seasonal level we haven’t approached since 2005.”
“For consumers intent on saving the most no matter what part of the country they may be visiting, we suggest downloading GasBuddy’s free app because the average ‘spread’ (the gap between the highest 5% and lowest 5% of gas prices) by state still averages out to 45 cents daily,” said Gregg Laskoski, another senior petroleum analyst with GasBuddy.
Patrick DeHaan, Sr. Petroleum Analyst, Midwest/East Coast
Email: firstname.lastname@example.org | Phone: 773-644-1427
Gregg Laskoski, Sr. Petroleum Analyst, Southeast
Email: email@example.com | Phone: 813-436-9422
Allison Mac, Petroleum Analyst, West Coast
Email: firstname.lastname@example.org | Phone: 626-383-8371