During the April through September summer driving season this year, prices were forecast to average $3.92 per gallon.
With the short-term energy outlook due tomorrow from the federal government, some are predicting that gasoline prices in the U.S. have already reached the top of their climb and will be heading back down again.
The average price for regular gasoline at U.S. filling stations increased 3.74 cents over the past two weeks and may have peaked, according to the independent Lundberg Survey. The price increase to $3.97 a gallon on 6 April is based on a survey of 2,500 gasoline stations. This is the smallest price increase in gasoline since last January.
In March, the U.S. Energy Information Agency EIA said that regular-grade motor gasoline retail prices would average $3.79 per gallon in 2012 and $3.72 per gallon in 2013.
If crude oil prices decrease, then gasoline prices will decline since crude is the biggest factor – 72% – in the price of gasoline. Reuters reported that crude for May delivery on the New York Mercantile Exchange, settled at $102.46 a barrel, down 85 cents, or 0.82%, after trading between $100.81 and $102.55. Losses were pared as traders bought back after prices hit session lows.
In March, the U.S. Energy Information Agency EIA said that regular-grade motor gasoline retail prices would average $3.79 per gallon in 2012 and $3.72 per gallon in 2013, compared with $3.53 per gallon in 2011. During the April through September summer driving season this year, prices were forecast to average about $3.92 per gallon, with a peak monthly average price of $3.96 per gallon in May.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
