Summer gas prices likely to be lower this summer, according to expert
Posted: 05/21/2013 at 2:00 pm
By: Associated Press
Click here to view in a gallery.
In this May 15, 2013 file photo, a service person works on sign at BP station at 35E and County Road E in Vadnais Heights, Minn. The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday, May 19, 2013 says the price of a gallon of regular is $3.66. (AP Photo/The Star Tribune, Marlin Levison, File)
Energy economics specialist Wally Tyner projects that prices in the Midwest will be between $3.50 and $3.90 a gallon, with prices in the South and Southeast between $3.15 and $3.55. He doesn't expect prices over $4, except on the West Coast.
Tyner says greater fuel efficiency and increased production by some countries should result in lower crude oil prices. He says oil production is growing faster than consumption for the first time since 2009.
Tyner cautions that refinery outages and world events are wild cards that could temporarily push gas prices higher. Rapid spikes in Midwest gas prices the past few months have occurred when refineries in Indiana and Illinois experienced breakdowns.