Hold up on buying gasoline for a week, and the price could drop by an average 16 cents a gallon nationwide. If you fill up a Ford Expedition, that’s a nifty $5.36 in savings.
Gasoline prices have been sliding steadily for several weeks, and they’re promising to get even cheaper as crude prices fall and the U.S. moves into the summer driving season. Near Houston, in areas surrounded by refineries, the price is about $2 a gallon, according to data from GasBuddy.com.
Last year at this time, the average price nationally for regular gas at the pump was $2.92 a gallon, according to AAA. Now, following an 18% drop in crude oil prices in New York, the average sits at $2.75 at a time of year — springtime — when the price usually peaks in anticipation of more drivers on the road.
“We did see a 7-cent decline in the national gas price last week, and I think you can look for another decline this week, so motorists would not be advised to be so fast to fill their tanks,” said Patrick DeHaan, a GasBuddy.com analyst, by telephone. “I could see the national average down around $2.60 a gallon or even $2.59 a gallon this week.”