Contact Us

Summer Gas Prices May Not Be As High As Expected

Joe Raedle, Getty Images

Many analysts predicted doom and gloom for gas prices this summer, with some saying they could reach as high as $6 per gallon.

But it seems those concerns were for naught — fuel costs have been on the decline and are now expected to stay well below last year’s prices.

Thanks to lower oil prices and less demand, the Energy Information Administration (EIA) believes gas prices will average just $3.79 per gallon this summer. That’s a bit more than than the current national average of $3.75, but still less than the almost $4.00 Americans were paying last month — and at this time last year.

That’s not just good news for drivers — it’s good news for the economy in general. Since our money won’t be going into gas tanks, it’ll instead be spent in other ways. Kay Smith, a senior economist at EIA, said the group estimates that a 10-cent drop in pump prices can add roughly 0.1 percent to disposable household income.

But bear in mind that if consumer demand increases, gas prices will, too. On average, Americans have been purchasing less gas for more than a year now — so if that changes, expect costs to rise.


Best of KLYQ

Recommended for You

Best of the Web

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for KLYQ Club VIP quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive KLYQ Club VIP contests, events, coupons, presales, and much more delivered to you for FREE.