While crude oil prices are starting to drop, consumers are questioning whether the savings will trickle down to gas costs at the pump. For over a decade, the GasBuddy.comwebsite has helped consumers navigate tricky gas prices.
According to Mercury News, California gas prices are expected to plummet by 25 cents or more by summer. Analysts predict gas might be back down to the level of $4 per gallon by the time the hot weather hits.
Patrick DeHaan, senior petroleum analyst at GasBuddy.com, predicted the recent spike three months ago. Now he says the national average could go down from the current price of $3.98 to the $3.50 range. DeHaan also stated, “California may flirt with $4 most of the summer.”
On Friday, the average cost per gallon in California was $4.28 a gallon. They are one of 13 states with gas over $4 a gallon. Gas prices in California at $1.08 higher than one year ago.
The cost of crude oil for June delivery went down to $97.18, as reported by the New York Mercantile Exchange on Friday. On Monday, crude oil was at $115 a barrel. The current cost of crude oil is the lowest it has been since March 15.
Analyst at commodity tracker Telvent DTN encourages consumer to be patient, saying, “Typically, it takes eight weeks for the full price change -- up or down -- to reach the pump with the majority of that change reflected within the first two weeks. Unless some unknown event materializes between now and Memorial Day, we will see lower gasoline prices during that holiday compared to now.”
In light of unknown events, GasBuddy helps consumers find the lowest gas prices in their neighborhood.Techonoratireports the site brings together 243 individual sites across the country. Local people report real-time prices in their neighborhoods. Visitors to GasBuddy simply choose their state to find the local website revealing current fuel prices. This helps consumers choose the cheapest prices in their area before visiting the pump.
Visitors do not have to join the GasBuddy site to use it. By joining the site, visitors are eligible to enter contests for weekly prizes and participate in the community. Points are earned by reporting gas prices, which can be exchanged for vouchers to increases the chances of winning a prize.
GasBuddy also has mobile apps to download for free for Android, iPhones and Windows phones. Consumers who did not plan ahead can find the lowest gas prices while on the road. With unpredictable gas prices across the nation, every little bit helps.
According to Mercury News, California gas prices are expected to plummet by 25 cents or more by summer. Analysts predict gas might be back down to the level of $4 per gallon by the time the hot weather hits.
Patrick DeHaan, senior petroleum analyst at GasBuddy.com, predicted the recent spike three months ago. Now he says the national average could go down from the current price of $3.98 to the $3.50 range. DeHaan also stated, “California may flirt with $4 most of the summer.”
On Friday, the average cost per gallon in California was $4.28 a gallon. They are one of 13 states with gas over $4 a gallon. Gas prices in California at $1.08 higher than one year ago.
The cost of crude oil for June delivery went down to $97.18, as reported by the New York Mercantile Exchange on Friday. On Monday, crude oil was at $115 a barrel. The current cost of crude oil is the lowest it has been since March 15.
Analyst at commodity tracker Telvent DTN encourages consumer to be patient, saying, “Typically, it takes eight weeks for the full price change -- up or down -- to reach the pump with the majority of that change reflected within the first two weeks. Unless some unknown event materializes between now and Memorial Day, we will see lower gasoline prices during that holiday compared to now.”
In light of unknown events, GasBuddy helps consumers find the lowest gas prices in their neighborhood.Techonoratireports the site brings together 243 individual sites across the country. Local people report real-time prices in their neighborhoods. Visitors to GasBuddy simply choose their state to find the local website revealing current fuel prices. This helps consumers choose the cheapest prices in their area before visiting the pump.
Visitors do not have to join the GasBuddy site to use it. By joining the site, visitors are eligible to enter contests for weekly prizes and participate in the community. Points are earned by reporting gas prices, which can be exchanged for vouchers to increases the chances of winning a prize.
