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Summer Travel Likely to Rise as Gas Prices Fall

Pump price expected to drop as oil stabilizes.

by on Jun.05, 2015

Gas prices are their high-water mark for 2015, but are expected to fall as crude oil prices stabilize.

The national average price of gasoline is $2.75 per gallon, which is the highest average of the year, according to the latest survey by AAA.

However, there is a good chance that average U.S. gas prices will drop soon due to stabilizing crude oil costs and as refineries complete seasonal maintenance, which would result in the cheapest summertime gas prices since 2009, the company suggested.

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At the same time, the average fuel economy of new vehicles sold in the U.S. continues to improve, according to a new survey from the University of Michigan. (more…)