With the economy in the U.S. extremely weak, and economic data continually bringing bad news, Americans continue to tighten up their spending habits and as a result demand for gasoline has fallen, along with the prices.
Travelers over the Fourth of July weekend should be happy, as prices dropped slightly from last week, at a time when demand usually pushes prices up in a big way.
Gas prices on a national average dropped 0.4 cent on Friday to $2.75 a gallon. Although that's higher than last year at this time, it's far below projections of $3 a gallon analysts had been calling for in the spring months.
The lowest gas prices are expected to be in the Gulf Coast states, Texas, and the Midwest.
Since last week, gas prices have fallen on average by one-half a cent.
No comments:
Post a Comment