April 30, 2024

Don't Let Gas Price Worries Spoil Your Summer Escape Plans

A report today from CNN sheds light on the brewing concerns surrounding gas prices amid escalating geopolitical tensions. The ongoing conflict between Israel and Iran, coupled with Ukrainian drones targeting Russian oil refineries and OPEC's decision to curtail oil supply, has sparked fears of a possible surge in gas prices, potentially disrupting summer travel plans.

Fortunately, as the report indicates, this apprehension has yet to materialize. According to AAA, US gas prices have stabilized, even experiencing a slight dip in recent days. The national average stood at $3.66 per gallon on Monday, down from $3.68 a week prior.

There is growing optimism that gas prices may have peaked for the spring or the entire year. Patrick De Haan, head of petroleum analysis at GasBuddy, anticipates relief for drivers at the pump in the coming weeks. "I'm hoping the worst is behind us," De Haan stated, expressing confidence that unless there is a significant unforeseen event, the national average has likely hit its projected spring peak.

Similarly, Tom Kloza, global head of energy analysis at the Oil Price Information Service, foresees a downward trend in gas prices in the upcoming weeks. "Most worries for the first half of the year are over. I think we're clear until hurricane season," Kloza remarked.

For those curious about gas prices in Tennessee, particularly in Shelby County, detailed information is provided below:

To estimate your gas expenses for your upcoming summer journey, utilize AAA's Gas Cost Calculator. Click the link below for access. Safe travels!


Source: https://www.cnn.com/2024/04/30/business/gas-prices-inflation-oil/index.html https://gasprices.aaa.com

Recent Articles

Lets Talk >