It is a nice surprise we are seeing lower gas prices at the pump, which is great news for everyone. In some states, a gallon of regular cost 30 cents less than it did this time last year.
Financial analysts predicted the total opposite for what we would pay at the pump.
Motorist in the Syracuse, NY area are discovering that their prices at the pump are almost 7 cents lower than they were the week prior.
A gallon of the same gas in Virginia costs 27 cents less than it did in 2011. While many drivers in Seattle are forking over the highest price per gallon nationally, $4.21, and this is with the nationwide average dropping by 16 cents over the past few weeks.
Across the nation, the average price of gas has dropped by more than 30 cents in the last two months. However, according to a petroleum industry analyst, there have been signs that the gas price plunge since April will be coming to an end.
According to the independent market research team, The Lundberg Survey, it takes time for the market to bring prices back down.
“There may be a few more cents’ decline at the pump. That’s because in some markets, the refiners and wholesalers haven’t finished passing through the oil price cuts,” says Trilby Lundberg with the Lundberg Survey.