Market analysts estimate that gas prices will reach lowest level in July after going through a steady growth during the past five years. The news is very good for all drivers across the United States, who can set out to longer journeys for the 4th of July weekend.
Recent economic changes have caused gas prices to skyrocket, but market analysts claim there is still room for hope. Graphics indicate that the cost per gallon is now the lowest it has ever been in five years registering $2.645 a gallon on Tuesday.
Even though this cost range is still high compared to the past decade, there was a 92-cent drop from last week and figures could get even smaller all throughout the month of July. Price ranges may vary from one state to another.
Thus, North Carolina drivers will only have to pay $2.656 for a gallon. The price is 2 cents lower now than it used to be a week before. The difference gets even more noticeable when we compare this period’s price with the gas tariffs practices around the same period, last year. According to the specialist studies conducted on the U.S. territory, North Carolina inhabitants had to pay 91 cents more for a gallon of gas.
The cheapest prices are practiced by gas providers in South Carolina. The costs were estimated at $2.444 a gallon, based on the data provided by AAA.
In spite of the significant diminishment, gas prices are still growing, market analysts have concluded. Last month, fares were eight cents lower than they are now, which clearly indicates that figures are taking an upward direction.
This decrease is, nevertheless, specific for the month of July when similar drops in price levels can occur every year. Analysts have been expecting a lessening of gas prices several weeks ago, but this year’s refinery issues have led to an increase in the gallon price.
The future looks even brighter for American drivers, according to the official declaration of AAA. The international political affairs, the Iranian tensions and the economic crisis of Greece could further contribute to the lessening of gas prices, the survey institute has concluded.
Image source: startribune.com