U.S. consumers are expected to pay less for gasoline this summer compared to last year. The price for regular gasoline is expected to average $3.63 a gallon during the heavily traveled summer driving season that runs from April through September, according to the latest monthly energy outlook from the U.S. Energy Information Administration.
That’s 6 cents less than last summer’s average pump price. Cheaper motor fuel reflects lower crude oil prices, which account for about 65 percent of what drivers pay at the pump.
Gasoline prices will vary by state and region, and average monthly fuel prices in some areas could be significantly higher than the national average pump price.
Gasoline demand this summer is expected to be slightly below last year’s level, as more fuel efficient vehicles more than offset the projected increase in highway travel.
Jonathan Cogan, for EIA, Washington.
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