US Gas Prices expected to be cheaper soon

U.S. retail gasoline prices should be slightly lower during the second half of 2013.  Jonathan Cogan with the U.S. Energy Information Administration gives details.  “In its new monthly energy forecast, the U.S. Energy Information Administration projects regular grade gasoline will average $3.59 per gallon in the current third quarter and $3.33 in the fourth quarter. Pump prices are expected to fall as crude oil prices begin to decline and the summer driving season winds down. Crude oil accounts for about two-thirds of what drivers pay at the pump. EIA expects daily gasoline demand to continue to decline this year and next, as improving fuel economy of new vehicles outpaces increases in highway travel.”