Gasoline prices soon to hit low point for 2012
Gas prices will soon drop to their lowest level of the year.
By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.
Still, it's more like a stocking stuffer. That's because for the second straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.
Drivers can only hope that forecasts for lower prices next year come true.
A combination of high oil prices and supply shortages caused by refinery and pipeline problems kept gas prices elevated for most of the year. The national average hit a high of $3.94 a gallon in early April and was around $3.87 in September.
Prices have fallen in most areas since then as supplies got replenished and refiners switched to cheaper winter blends of fuel. However, New York and New Jersey saw temporary spikes in November due to Superstorm Sandy.
Californians continue to see some of the highest prices in the U.S. But they're probably relieved to be paying an average of $3.59 a gallon just two months after a refinery fire and pipeline shutdown sent prices soaring close to $5.
The nation's lowest prices are found mostly in the lower Midwest and parts of the South. Missouri is closest to cracking the $3 level, with its average price of $3.01.
By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.
Still, it's more like a stocking stuffer. That's because for the second straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.
Drivers can only hope that forecasts for lower prices next year come true.
A combination of high oil prices and supply shortages caused by refinery and pipeline problems kept gas prices elevated for most of the year. The national average hit a high of $3.94 a gallon in early April and was around $3.87 in September.
Prices have fallen in most areas since then as supplies got replenished and refiners switched to cheaper winter blends of fuel. However, New York and New Jersey saw temporary spikes in November due to Superstorm Sandy.
Californians continue to see some of the highest prices in the U.S. But they're probably relieved to be paying an average of $3.59 a gallon just two months after a refinery fire and pipeline shutdown sent prices soaring close to $5.
The nation's lowest prices are found mostly in the lower Midwest and parts of the South. Missouri is closest to cracking the $3 level, with its average price of $3.01.
The prices should have never been allowed to go over $1.79 a gallon. But since the U.S. is basically an oil based economy, and the oil companies can manipulate the prices at will, we will just shrug our shoulders and pay what ever price they set.
Filled up my truck for $78 yesterday. Felt like stealing at that price, it was a Benjamin per tank a few months ago.
Prices have fallen because of ongoing investigations to Gouging.by the fuel companies.
On Dec 19 last year, Costco price was $3.12 a gallon...that big drop in gas price at the end of the year was the biggest reason the S.S. COLA increas was so small. Everything else went up, but they used the excuse of low price gas to minimize the increase. Again this year, the price has followed last years within a few cents. I'm beginning to wonder if this was a manipulation of prices just for that purpose. Watch and see that right after the first of the year, at least 1 refinery will have a major fire, and several others will shut down "for maintenance"...all at the same time...just like last spring!
So now we are supposed to be enthusiastic about gas above $3 a gallon?? Let's see, it was half that a few years ago! They just keep screwing us, jacking the price then lowering it, but never getting it down to where it was before. Can anyone else see a pattern or a conspiracy here?
@musiclover  Not entheusiastic. but it's still a heck of a lot better than $4.50 a gal. !!!!!!!!!!!!!
"Gasoline prices soon to hit low point for 2012"
Â
That ain't saying much.
Thank you Obama for lowering the gas prices for us, just in time for the Christmas season too! Wait, does he only control the price of gas when it goes up? I always get confused on that.