US Gas Prices expected to be lower in 2013

Despite the recent uptick in gasoline prices, the U.S. Energy Information Administration expects falling crude oil prices will lead to a small decline in average motor fuel costs this year compared with last year.  Jonathan Cogan, spokesperson for the U.S. Energy Information Administration gives details. “The price for regular gasoline is expected to average $3.55 a gallon in 2013 and $3.39 next year, according to Energy Information Administration’s new Short-Term Energy Outlook. That is down from $3.63 a gallon in 2012. For the short-term, however, pump prices are expected to peak at $3.73 per gallon in May because of higher seasonal fuel demand and refiners switching their production to make cleaner burning gasoline for the summer. Diesel fuel will continue to cost more than gasoline because of strong global demand for diesel. Diesel will average $3.92 a gallon this year, which is down a few pennies from last year, and average $3.82 in 2014.” The average price for a gallon of regular grade gasoline in South Carolina is $3.43.