Gas prices should be lower for summer vacations - FOX 8 WVUE New Orleans News, Weather, Sports, Social

Gas prices should be lower for summer vacations

NEW ORLEANS (WVUE) - The cost of your summer vacation may be cheaper if experts are right in their predictions of lower gasoline prices heading our way.   According to a list of gas stations in the New Orleans area, the average cost for a gallon of gas is $2.16 a gallon.  Prices ranged in the metro area from a low of  $1.97 a gallon to a high of $2.61.  That's a lot less than drivers were paying last year.  According to the website, gasbuddy.com, the cost gasoline is about $1.10 per gallon lower than this same time last year. And experts predict prices will dip even lower in the next couple of months.  


Senior petroleum analyst Patrick DeHaan believes gas prices may have already hit their peak in early March, when the national average was $2.47 a gallon.  “Once refineries complete their scheduled maintenance seasons and switch to summer formulations is complete,their output typically increases,” said DeHaan. “Barring any unforeseen events --like refinery breakdowns or hurricanes— current supply & demand fundamentals could put more downward pressure on retail prices even during the summer driving season.”

Looking ahead at Q2, GasBuddy projects the national average price of gasoline will range as follows:

April: $2.25 to $2.45

May: $2.20 to $2.40

June: $2.15 to $2.35

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