Gasoline Prices Predicted to Fall in 2013

Gasoline Prices Predicted to Fall in 2013

Forecasters say ample oil supplies and weak U.S. demand will keep a lid on prices.

January 11, 2013

NEW YORK – Forecasters say ample oil supplies and weak U.S. demand will keep a lid on prices. The lows will be lower and the highs won't be so high compared with a year ago. The average price of a gallon of gasoline will fall 5 percent to $3.44, according to the Energy Department.

That would still be the third-highest average price ever. But a discount of 19 cents per gallon from 2012 would save the typical household $205 this year and free up $25 billion that could go instead to restaurants, malls, or movie theaters.

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Source: Associated Press