Holiday gasoline prices
It was predicted by the US AAA that 94.5 million Americans would travel at least 50 miles from home during the holiday season, which breaks the 2012 record of 94 million. This is the fifth consecutive year of travel increases in the US over the holiday season. The period was defined by the AAA as 21st December – 1st January.
Just before the above time frame, the average price for a gallon of gasoline was US$ 3.222, a figure that had remained relatively flat for the previous month. The figure the previous year was US$ 3.219 /gal. Six US states still had an average gasoline price of below US$ 3 just before the holiday season.
2014 gasoline prices
During 2013, the average American paid US$ 3.49 /gal. of gasoline, the lowest average price since 2010, according to AAA figures. For this year, the average is expected to be slightly lower if movements in the oil industry go as predicted.
Increased refinery capacity and domestic crude oil production is expected to help provide a cushion in case something goes wrong. However, AAA believe that there is an outside change of paying higher prices due to unexpected global events or significant economic growth.
Edited from various sources by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02012014/us_gasoline_prices_predictions01/