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Saturday, May 18, 2024

Consumers can expect low gas prices for summer travel season

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By BEN THEOBALD
Daily Press Staff Writer
The price of crude oil has decreased dramatically in the past year, and with the summer travel season coming up, consumers may expect to see relatively low prices when going to the pump.
“What EIA (Energy Information Administration) is forecasting is the average consumer will pay about a dollar a gallon less this year than they did last year,” said Rayola Dougher, senior economic advisor at the American Petroleum Institute. “They work that to a savings to the average family of about $700. So their expectation is that the price will stay relatively low at least through this year and maybe the next year.” … For the rest of the story, subscribe in print and on the web.

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