• 7 minutes Get First Access To The Oilprice App!
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 17 minutes Renewables in US Set for Fast Growth
  • 4 hours Socialists want to exorcise the O&G demon by 2030
  • 20 hours Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 19 hours Oceans "Under Fire" Of Plastic Trash
  • 2 days Is Natural Gas Renewable? I say yes it is.
  • 1 hour Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 14 hours Cheermongering about O&G in 2019
  • 2 days Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 6 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 20 hours Duterte's New Madness: Philippine Senators Oppose President's Push To Lower Criminal Age To 9
  • 2 days Making Fun of EV Owners: ICE-ing Trend?
  • 1 day North Sea Rocks Could Store Months Of Renewable Energy
  • 2 days Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 2 days Orphan Wells
Alt Text

Oil Rises On Hopes Of A U.S.-China Trade Deal

Crude stabilized on Friday on…

Alt Text

What Apple’s Tailspin Means For Oil Prices

Global markets have bounced back…

Alt Text

Oil Enters Bull Market As Shorts Are Wiped Out

After plunging 44 percent in…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for US-based Divergente LLC consulting firm, and a member of the Creative Professionals Networking Group.

More Info

Trending Discussions

Gas Prices To Remain Low This Summer

It’s easy for U.S. drivers to forget the high gas prices in recent years after the ultra-lows seen only months ago, but prices going into the summer months of 2016 are still well below what they were this time last year, and the lowest price heading into the summer months since 2009.

Despite a recent uptick in the price per barrel of oil—up $20 since the last week of January 2016—U.S. drivers will still enjoy the low gas prices this summer.

The spot price for WTI crude oil is still significantly lower than this time last year, trading today at US$49.94/bbl compared to 1 June of 2015, when prices were $62.21. Related: Oil Speculators No Longer Confident In Price Crash

Image courtesy of WTRG Economics

The U.S. average retail price for gas was $2.30 per gallon on 23 May 2016, according to the U.S. Energy Information Administration (EIA), which is $.47 less than the average price for the same time last year. Related: Oil Pauses At $50 Ahead Of OPEC Meeting

Some states are seeing lower gas prices than others, with drivers in the Gulf Coast states, such as Texas, paying the lowest rates due to the high refining capacity in those states. This past weekend—a major travel weekend in the United States--drivers in the Gulf States paid an average of $2.06 per gallon.

Drivers on the West Coast are paying the highest rates, although rates there are also significantly below last year’s prices in the same region. In May 2016, West Coast states were paying $2.66 per gallon on average—$.083 less than the same period last year.

(Click to enlarge)

Image courtesy of gasbuddy.com

EIA’s May Short-Term Energy Outlook (STEO) forecasts the U.S. monthly gasoline price to average $2.21 per gallon during the 2016 summer driving season, which is $.42 per gallon less than the average 2015 summer gasoline price. The EIA projects the U.S. regular gasoline retail price to average $2.08 per gallon in 2016 and $2.24 per gallon in 2017.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News