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?
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