ST. LOUIS (KMOX) – There’s good news for anyone planning to take a long family vacation by car this summer.
“Gas prices nationally are likely to average their lowest between Memorial Day and Labor Day,” according to Patrick DeHaan, senior petroleum analyst with GasBuddy.com. “And that’s going to lead to a very nice climate for motorists who are hitting the road this summer.”
DeHaan is projecting that the summer driving season of 2015 will see the U.S. average price for gasoline come in around $2.35/gal.
A recent Energy Information Administration projection pinned summer fuel prices at $2.45/gal.
Either number would represent the lowest summer pump price in a decade.
DeHaan says several factors have come together to create lower gasoline prices.
“Rising oil inventories, which now stand at seasonal all-time record highs,” he says. “A slowdown from oil demand in developing countries like China that have seen explosive oil growth.”
DeHaan says those factors, combined with unusually high U.S. oil production levels, have created a recipe for fuel prices that will likely go no higher than $2.45 nationally all summer long.
According to GasBuddy.com, the current national average for gasoline is $2.40, while in St. Louis it’s $2.41.
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