Gas Prices Drop for Nine Consecutive Days
Gas prices have fallen for nine consecutive days, reaching today’s average of $2.33 per gallon. Gasoline demand remains on track to set a new all-time high for the 2016 summer driving season, however, crude oil remains relatively less expensive than recent years which is contributing to direct savings at the pump. Drivers are saving a nickel per gallon on the week, but are paying five cents per gallon more on the month. Averages are down 46 cents per gallon versus this same date last year, attributed year-over-year surpluses, and these savings are likely to continue as supply appears more than capable of keeping pace with growing demand.