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Posts Tagged ‘GasBuddy.com’

Falling Gas Prices Save Drivers $1.4 Bil

Experts predict averages dropping below $2 per gallon by Christmas.

by on Sep.09, 2015

Gas prices continue sliding with some experts predicting the national average falling below $2 per gallon by Christmas.

Gasoline prices are heading downward with the official end of the summer driving season as prices fell by 6.8 cents per gallon, on average across the nation, according to data collected by GasBuddy.com, which is now predicting the average price of gasoline could drop below $2 per gallon by Christmas.

GasBuddy estimated that Americans saved $1.4 billion over the four-day weekend as gasoline prices dropped to their lowest point in decade. In the wake of the Labor Day holiday gas prices stood at $2.38.1 cents per gallon, which was 22.3 cents per gallon lower than a year ago, according to GasBuddy.

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The price is now more than $1.05 lower than it was just a year ago and in some towns in Texas, Louisiana, Mississippi, Alabama, Arkansas and Tennessee gasoline has dropped below $2 per gallon and more price cuts are expected nationwide. Pump prices slipped below $2 per gallon in South Carolina, the nation’s least expensive market for gasoline, over the weekend and drivers are currently paying an average price of $1.97 per gallon, according to AAA’s weekly survey. (more…)

Gas Prices Continue to Decline in July

Supply outstrips demand in much of U.S.

by on Jul.31, 2015

The average price for gas has dropped recently in the U.S., despite a sharp spike on the West Coast.

The national average price for regular unleaded gasoline continues to drop as motorists are now paying, on average, the lowest price for gasoline during July since the recession year of 2009.

The national average price is $2.71 per gallon, which is a nickel per gallon less than one week ago and seven cents less than one month ago. Drivers are saving 82 cents per gallon at the pump compared to a year ago, according to AAA. GasBuddy.com also reports that prices continued to fall this week.

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Weekly price comparisons show the majority of drivers in 43 states and Washington, D.C. are saving at the pump. The price is down a dime or more in Ohio, where prices dropped by 17 cents, as well as Indiana, Kentucky and Michigan and despite some regional differences within each state, motorists in a total of nine states are saving a nickel or more per gallon week-over-week. Retail averages climbed higher in seven states during the same period, but in less dramatic fashion. (more…)

Gas Prices Creeping Upward after Super Bowl

Another drop may come due to declines in regional demand.

by on Feb.02, 2015

Gas prices are on the rise after a lengthy free fall that has seen them drop to the lowest levels in more than five years.

The free fall in gasoline prices could be coming to an end after a seven-month drop in prices has consumers enjoying the lowest prices in more than six years.

Gas Buddy, a website the tracks daily changes in gasoline prices, reported that gasoline was selling for $2.051 per gallon in the wake of the Super Bowl, which was slightly higher than the $2.026 per gallon recorded only a week ago.

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AAA, however, reported last week there were indications that gasoline prices could drop again as demand as dropped in the wake of the winter storms in the Northeast. The winter weather continued over the weekend with a massive blizzard that dumped a foot of snow in a broad band stretching from Iowa into New England. (more…)

Lower Fuel Prices Likely to Last Awhile

Saudis taking short-term loss for long-term gain.

by on Oct.14, 2014

Gas prices in the U.S. are on the decline and the lower prices may be around for a while.

If you’ve got to fill up your tank for the daily commute, you might not dread watching the numbers spin on the pump these days, at least not as much as you did earlier in the year when prices nudged $4 a gallon in many parts of the country.

Motorists in Missouri, for example, are now paying an average of just $2.877 a gallon, according to a survey by GasBuddy.com, the lowest figure in the country. But the tracking site found that eight other states have dropped below the $3 mark, with some estimates predicting as many as 30 could dip below that figure in the weeks to come.

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The current downturn might last for some time, according to the federal agency tasked with tracking energy trends. Meanwhile, a wire report out of the Mideast indicates that the government of Saudi Arabia is quietly sending out signals that it won’t take steps to boost fuel prices for as much as a year or more. (more…)

Fuel Prices Plunge in US

Americans enjoying prices not seen since 2010

by on Sep.22, 2014

Despite unrest in the Middle East, gas prices are dropping to their lowest levels in four years.

Retail U.S. gas prices have taken another big tumble this month, and could drop sharply before year-end, according to various fuel industry analysts.

American motorists could wind up saving as much as $2.5 billion if the trend holds, according to tracking service GasBuddy.com, money that it expects will help fuel the country’s ongoing economic recovery.

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A survey by analyst Trilby Lundberg found that a gallon of regular gasoline has dipped by 9 cents during the last two weeks, while the numbers are down 34 cents since the beginning of summer. GasBuddy, meanwhile, is predicting the downward trend will continue. (more…)

Gas Prices Falling Despite International Conflicts

by on Aug.12, 2014

Gas prices are predicted to drop through the fall.

Ongoing strife in Iraq and Ukraine should be a recipe for a gas price hike in the U.S.; however, the national average retail price for a gallon of regular unleaded continues to fall: a trend that is expected to continue.

The U.S. Energy Information Administration, also known as the EIA, predicts further drops at the pump throughout the third quarter of this year as lower refinery margins offset higher crude oil prices. The agency expects regular gasoline retail prices to average $3.54 per gallon in 2014 and $3.45 per gallon gal in 2015, compared with $3.51 per gallon in 2013.

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AAA and GasBuddy.com reported this week a national average price of $3.47 for a gallon of regular unleaded, down 2 cents from this time last week and 15 cents from one month ago. The national average price for this date last year was $3.55 per gallon, according GasBuddy. (more…)

Prices at the Pump Creeping Higher Due to Iraqi Unrest

Gas prices expected to remain higher than normal this summer.

by on Jun.23, 2014

Gas prices aren't going to drop to levels when you got it out of this pump, in fact, they are expected to buck the trend of dropping during the summer.

Gasoline prices across the nation have remained relatively stable as the turmoil in Iraq continues to shake global petroleum markets, but the chances for a gradual decline in prices at the pump are receding, observers suggest.

GasBuddy.com estimated gasoline prices increased by three cents last week to an average of $3.683. However, the price of low-sulfur diesel oil has risen by roughly 10 cents during the past two weeks, reaching nearly $3 per gallon in the wholesale markets around New York Harbor.

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Prices have not followed the established seasonal trajectory of dropping in the weeks after the Memorial Day holiday. Gasoline prices will typically peak in spring and retreat in June, and that’s not happening this year. In fact, the $3.67 average national price for a gallon of regular gasoline on June 18 was the highest it has been on that day since 2008 and is close to this year’s peak of $3.70, which occurred on April 28. (more…)

New Vehicle Fuel Economy Drops in April

Sales of trucks, SUVs account for reduction in mpg rating.

by on May.06, 2014

Chrysler's Jeep brand helped the maker to a 49th consecutive month of increased sales in April.

Robust sales of trucks and small sport utility vehicle, which have been aided by stable fuel prices, reduced the fuel economy of the vehicles sold in the United States in April.

The average fuel economy of new vehicles sold in the U.S. in April was 25.2 mpg – down 0.2 mpg from the value for March, according to a monthly survey by the University of Michigan.

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Michael Sivak, one of the U-M researchers responsible for the survey said the shift “likely reflects the increased proportion of light trucks among newly purchased vehicles.” (more…)