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Are gas prices slowing down soon?

By Crissinda Ponder · Bankrate.com
Thursday, April 11, 2013
Posted: 2 pm ET

If you are well-acquainted with your steering wheel and pour tons of dollars into your tank several times a month, you -- and your wallet -- may be getting some relief soon.

The price of regular gasoline is expected to average $3.63 per gallon nationally this summer driving season -- April through September -- according to a brief released Wednesday by the U.S. Energy Information Administration. The average price reflects a three-year low.

The factors making up the forecast include a drop in crude oil prices and a rise in gasoline inventories. So far this year, there have been 1 million more barrels produced than in 2012.

Some parts of the country will have lower average gas prices than others, the EIA reports. The average price of regular gasoline per gallon is expected to be $3.47 on the Gulf Coast, $3.57 in the Rockies and $3.58 in the Midwest. The East Coast is closest to the national average with $3.61; the West Coast's average is 26 cents more than the U.S. average at $3.89.

Before you hit the road to chase lower gas prices, use a calculator such as Bankrate's to see how much money you'll save, if any, when you log those extra miles.

Does this news change your travel plans -- where you'll vacation and whether you'll drive instead of fly?

Follow me on Twitter @CrissiPonder.

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19 Comments
Gary Day
June 04, 2013 at 9:57 am

Just imagine how high the price of gas would be if all the costs of wars for oil were calculated in.

michael maze
June 04, 2013 at 3:48 am

I am working two full time jobs and am still on welfare the government and my fellow taxes payers want me off lower the gas I drive a v6 one of my jobs pay for gas and the other try's to pay my bills gas here is 4.15 jumped 30 cents in one day what a joke they used to lie and say this war or this unrest raised gas but now they just raises it because

Chuck
June 04, 2013 at 2:02 am

I really do not mind paying a reasonable price for fuel but why on earth are we continuing to turn our food into fuel! Perhaps we should investigate some allternative ideas. After all gasoline could be produced from coal could it not? And since America sits on an abundance of coal should we not explore some alternatives?

Charles
April 19, 2013 at 5:06 pm

We the people no longer have the say to what goes on here in our America. We are now told what to do by the people we elected. Last I heard they work for us not the other way around. They have laid out a plan that will do everything within their power to force the baby boomers to continue working. Just think about all thats gone on and how much you read in the news everyday about our future. It's simple brain washing at it's finest. Their bailouts cost us dearly an yes I believe they're trying to force us to buy the autos and line their pockets as usual. Gas prices stopped the growth in our country. I personaly think it should be against the law to make billions while the rest of us suffer for their gain.

maggie
April 19, 2013 at 3:00 pm

maybe the high gas prices are to sell more cars that use less gas . so the dealers make the money . and sell more cars we don't like

Bill
April 19, 2013 at 12:02 pm

When the economy was going strong and gas prices hit $4.00+ a gallon, the oil companies found the limit where the public started complaining about the prices. Then the "recession" hit and now the oil companies are trying to get the prices back up there. They liked having $14 BILLION in profits every quarter. Wouldn't you??

Dan
April 19, 2013 at 10:35 am

Remember when Pres. Bush was in office and gas prices were much lower? The drive by media blamed the "high" prices on Bush and his oil friends. Huh! when was the last time the media blamed Pres. Obama and his rich oil friends for the much higher prices now! I'm just saying. Wish the drive by media was a little more "fair and balanced".

Ted Georgoff
April 18, 2013 at 9:45 pm

Read the New Oil Landscape article in the National Geographic, March -2013. The Bakken formation has increased 150-fold, to more than 660,000 barrels a day. It will close in on Texas-@ two million barrels. The number of wells will increase from 8,000 to 50,000. The KXL pipeline ( 7 billion $ project) will create hundreds of thousands of jobs, give the economy a shot in the arm, LOWER gas prices and wean the U.S. from foreign imports !The pipeline should travel down and EAST to the east coast, where most of the refiners are located. NOT to the Gulf , where it will head overseas ! Gas at $ 1.60 , 2.00 in our pockets !!

Adrianne Smith
April 18, 2013 at 7:59 pm

Need to get the price back below 1.50 a gallon. This is highway robbery being sooooo high.

Jim
April 18, 2013 at 6:39 pm

THE WHOLE IDEA OF HIGHER GAS PRICES ARE TO KEEP THE MOVEMENT OF THE AMERICAN PUBLIC AT A MINIMUN.IT'S A CONTROLLING FACTOR IN THE LIVES OF MEN @WOMEN; TO ALSO BRING DISCOURAGEMENT IN THE RESPECT,OF(WHAT'S THE USE IN TRYING !)MAY GOD HAVE MERCY ON THESE INDIVIDUALS WHO SEEK TO LINE THEIR POCKETS AT THE EXPENSE OF THOSE HARD WORKING AMERICANS,WHO JUST WISH TO IMPROVE THE LIVES OF THEIR CHILDREN AND THEIR LOVED ONES.(HAPPY TRAILS)