He said that should prove particularly true for savvy motorists who take the trouble to shop for the cheapest gasoline prices.
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The price of gasoline hinges on many factors but most heavily on oil.
The AAA travel-services organization predicted that the average price for regular gas would range from $2.25 to $2.45 a gallon, slightly cheaper or comparable to 2015.
According to GasBuddy’s projection, the national average will reach $2.28 by the end of the year.
Including the change in gas prices in Arkansas during the past week, prices Monday were 33.0 cents per gallon lower than the same day one year ago and are 11.9 cents per gallon lower than a month ago. The continuing low gas prices are a result of the persistent low cost of oil.
It’s estimated they will spend $17 billion less on gas compared to 2015.
Tonight on NewsWatch 12, learn how the falling price is being looked at as both a positive and negative impact on the economy and hear what Oregon’s statewide average is as of today.
Gas prices will continue to fall this year, dropping now for the fourth year in a row.
“That provides a little more insulation for consumer against those aggressive price climbs that we tend to see in March, April and May”, Laskoski said.
Gasoline selling for $3 a gallon will likely be hard to find, except for some locations on the west coast.
“While past history is never a guaranteed indicator of future performance”, he said, “it does offer clues that are instrumental to short-term and long-term forecasts”.
He said those factors suggest “the overall trend of recent years should continue, and that means favorable outcomes for US consumers”.
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Expect prices to creep up through spring because of the switch to summer blends and more demand as people hit the roads. In 1965, for example, the average price of gasoline was 30 cents a gallon, according to the government’s Energy Information Administration.
