Will Gas Prices Continue to Decline in 2013?
While the government shutdown has been dominating headlines, many consumers have gotten some relief at the pump from gas prices, which have declined throughout the United States all through September.
Dropping from the summer’s peak prices in July, the cost of gas sunk by average of over 10 cents a gallon during the month of September, leaving the national average at around $3.50. While prices remain relatively high in some states — gas in Hawaii still costs over $4 a gallon — it has led many states to see prices dropping to below $3 a gallon, certainly a welcome sight for consumers.
In fact, many analysts have claimed that prices should continue to fall throughout the rest of 2013, with some going so far as to say that another 25 or 30 cents could be shaved off of the price of gas by the year’s end. More conservative estimates are not quite so extreme, looking for prices to drop to somewhere in the range of $3.30-$3.40 for the national average at the end of the fourth quarter.