Gasoline Expected To Remain Cheap This Summer
WASHINGTON — Despite the dismal economy, motorists may want to take to the road this summer. The federal government says gasoline prices are expected to stay relatively low.
The Energy Information Administration on Tuesday projected regular-grade gasoline to average $2.23 a gallon during the April-September driving season. The monthly average is likely to peak at $2.30 a gallon. That’s still a bargain compared with last summer, when gasoline cost an average of $3.81 a gallon and soared for a time past $4.
In recent weeks gas prices have edged higher from their lows in December. Last week, gasoline averaged $2.05 a gallon. The energy agency attributed the increases to slightly higher crude oil costs and refiners trying to recoup some profits.