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Posts Tagged ‘gasbuddy’

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.

Fueling Up the News!

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…)

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…)

Gas Prices Fall to Barely $3 Gal. in Some Markets

Unexpected spring decline could stick for some months.

by on Apr.08, 2013

You're getting a break at the pump, this week.

If your wallet is still hurting from the painfully high fuel prices much of the country experienced over the winter there’s some good news next time you head to the pump.

The average price of a gallon of regular unleaded gas has dipped to just $3.58, a three-cent dip since late last week, 15 cents from a month ago, and 36 cents off of what the typical American motorist was spending this time in 2012. That’s a sharp turnaround from February when some states saw gas surge to near or all-time records, particularly along the West Coast.

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Buyers are still paying an average $4.359 in Hawaii and $4.027 in Washington, D.C., but California is back under the $4.00 mark, at $3.998, according to GasBuddy.com, a well-respected fuel price tracking service. And it’s down to $3.286 in Montana – where motorists are paying just $3.261 in Billings. Some reports indicate that the price has dropped below the $3.00 mark in a few Rocky Mountain communities near to major refineries.

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Gas Prices Fall – But Could Soon Rocket Up Again

The bad news is a better economy.

by on Oct.16, 2012

You're getting a break at the pump, this week. But it may not last long.

Fuel prices are continuing the dizzying rollercoaster rate that has plagued motorists for most of 2012, the good news being a sudden dip in what most Americans are paying at the pump – even in California, where refinery issues recently nudged gas prices up and above record levels.

But the bad news is that an increasingly healthy economy could soon result in another surge at the pump.

According to the Energy Information Administration, the typical American motorist is currently paying $3.819 a gallon for self-serve regular unleaded.  That’s down about 3.1 cents in a week – a savings that can add up to about $5 a month for the average commuter.

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Prices have fallen across the country, says the EIA and other sources, with Oklahomans getting the best deal at $3.449, and South Carolinans close behind at $3.456.  At the other end of the spectrum, California is still in record territory, at $4.573, according to tracking site GasBuddy.com, though that’s at least down a few cents from recent records.

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It’s Driving Season. Why are Gas Prices Tumbling?

After spring run-up, U.S. motorists are catching an unexpected break at the pump.

by on May.30, 2012

Fuel prices have tumbled 27 cents a gallon since their early April peak and the trend is downward.

It wasn’t all that long ago that American motorists were being greeted with shrill headlines forecasting $4, even $5-a-gallon gas by summer.

It certainly seemed plausible after the rapid run-up during late winter and early spring, prices at the pump coming within pennies of the all-time record set back in July 2008.  But a funny thing happened just as the traditional driving season approached: fuel prices began to tumble and the downward trend may well continue through the summer.

Over the Memorial Day holiday various tracking services showed that fuel prices dipped to around $3.65 a gallon, about 27 cents lower than their national peak in early April.

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“Had you asked me back in January if the national average would have been that low on Memorial Day, I likely would have chuckled,” said Patrick DeHaan, a senior analyst with GasBuddy.com.  Looking forward, he told TheDetroitBureau.com, “prices could go either way,” depending upon a variety of factors, though for now, the trend appears to be downward.

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