10% More For Gas This Summer

gas-price

U.S. motorists are expected to pay an average of $2.74 per gallon this summer for regular gasoline, the highest summer price in four years, according to the U.S. Energy Information Administration. The projected price for the summer, which includes April through September, is 10.4% or 26 cents per gallon higher than the average price in summer 2017, and the rise reflects changes in crude oil prices.

In 2018, the amount of money households are expected to spend on gasoline will rise 9.5%, or by nearly $200, to about $2,300, from 2017. The price for a gallon of gas will rise to $2.79 in May before it falls to $2.65 per gallon in September. Gas prices often increase in the summer as demand rises, according to the EIA. During the summer, federal and state environmental regulations require the use of summer-grade gasoline, which costs more to produce. For 2018, the average price of regular gas is expected to be $2.64 per gallon.    MORE

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