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Gas Price Projections

Gas Price Projections
April 22
12:40 2015

Gas prices are expected to drop once more, according to a report by the Energy Department.

The forecast calls for a whopping thirty-two percent drop in price between the months of April and September.

The price won’t be set in stone.  It will fluctuate, and it is believed that it may even drop below the $2.00 price tag.Gas

Stephanie Dembowski, the Public Affairs Specialist for AAA said, “With the prices of gas and oil being so volatile, it is always subject to change.”

Lake Powell Communications spoke with AAA spokeswoman Valerie Vinyard, about the projection.

“We expect it to stay under $3.00 a gallon for the rest of the year,” said Vinyard.

Currently, the average gas price in Page is about $2.53 per gallon.

There will be, of course, a price hike when gas stations switch over to their more expensive summer fuel.

Vinyard also claimed that the price of crude oil is the lowest it has been since 2006 at the benchmark price of $50 per barrel.

Lower barrel prices mean lower prices at the pumps.

There will be, of course, a price hike when gas stations switch over to their more expensive summer fuel.

Reportedly, the United States currently has a greater barrel supply than it has ever had.

While the price of gas should be down, the consumption of gas is projected to be slightly higher than last year, with more people traveling, due to the lower gas prices.

One factor that plays a huge role in the oil and gas industry prices, is the sanctions on Iran.

If lifted, they would cause significant price hikes for crude oil in the U.S.

It is estimated Iran currently holds at least 30 million barrels of oil in storage.

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