Gas Prices Likely To Rise A Bit

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Gas Prices Likely To Rise A Bit

04/15/2009
NEW YORK -- As the summer driving season gets underway, drivers will probably pay a bit more for gasoline, but won't have to worry about the sky-high retails of last year.

Gasoline prices will average $2.23 for a gallon of regular grade from April to September, according to an estimate by the U.S. Energy Information Administration. That average is 9 percent higher than the current national average of $2.05 per gallon, but well under last summer's $3.81 average, according to a report by the Wall Street Journal.

Gasoline retails will most likely peak at an average of $2.30 per gallon in late summer, according to the agency's most recent report.

"The absence of a meaningful spring rally in fuel prices by this time of the year is excellent news for consumers starting to plan summer road trips," Geoff Sundstrom, a AAA spokesman, told the Wall Street Journal.

The agency forecasts gasoline consumption to grow by 1 percent this year—a deviation from the 4.5 percent decline during last spring and summer.

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