by Timothy McQuiston Vermont Business Magazine According to a national industry analyst, 2015’s second half represents a strong expectation, in Vermont and across the country, that motorists will spend even less on gasoline this year than they did in 2014. GasBuddy experts say that before Christmas, as many as 20 states could have average gas prices below $2 per gallon as the national average for December slips to $1.98. Vermont is not one of those states expected to fall under $2. However, at an average price $2.65 today, Vermont is a penny lower than the US average. Vermont gasoline prices have dropped 5 cents from last month and just over a dollar from the same time last year.
“We’re confident that our projections give consumers more than accuracy; we think they’ll help them identify some savings that should come in handy at Thanksgiving and Christmas,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.
“It’s interesting to remember that last year the national average shed more than $1.27 from August 1 through December 31 when the US average was $2.24,” DeHaan pointed out. “This year, if we see just half of that decline it will bring us to below $2 per gallon.”
Projected Monthly U.S. Average (Per Gallon)
August: $2.54
September: $2.43
October: $2.28
November: $2.10
December: $1.98
States most likely to see average prices at $1.99 or less before Christmas:
AL, AR, DE, FL, GA, IN, KS, KY, LA, MI, MO, MS, NC, NJ, OH, OK, SC, TN, TX, VA.
Contributing to the positive forecast are regional, national and global supply & demand fundamentals that continue to place more downward pressure on crude oil prices than upward pressure, and that trend is expected to continue well into 2016.
“As motorists wrap up their summer vacation road trips, demand for gasoline slips in autumn and winter. At the same time, refining margins are strong and with the switch to cheaper winter grade gasoline in the coming month, ample supply of discounted gasoline will be available to motorists. It’s the perfect recipe for savings at the pump till the end of the year,” noted Will Speer, another senior petroleum analyst for GasBuddy.
About GasBuddy.com
GasBuddy is the premier source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump. For Vermont prices go to: www.vermontgasprices.com
GAITHERSBURG, MD -- (July 31, 2015) – Gas Buddy