With many Missourians planning vacations and traveling more throughout the summer months, some wonder if gas prices will remain lower.
AAA spokesperson Nick Chabarria said the primary driver will be crude oil prices.
Chabarria told Missourinet that crude oil accounts for about 60% of the final price that drivers pay at the pump.
“So typically, as crude oil goes, so do the gas prices, said Chabarria.” “Right now, crude oil is nearly twenty dollars cheaper per barrel than where we were at the end of May in 2024.”
According to a recent study from GasBuddy.com, roughly 69% of Americans plan to take a road trip this summer, down roughly 10% from last year.
Gas prices are expected to be lower, at least for the short term.
Chabarria encourages drivers to enjoy saving, at least to start the summer.
“At least for the short term, again maybe the next couple of weeks you may see savings at least anywhere from 20 to 30 cents per gallon, he said.”
Chabarria also said how long the gas prices remain lower will depend on several geopolitical events going on globally that impacts prices, as well as certainly some decisions politically here at home.
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