Motorists to save $350 this year on lower fuel prices

The U.S. Energy Information Administration forecasts that U.S. drivers will pay an average of $2.04 per gallon this summer for regular gasoline.

The forecast price for summer 2016, from April to September, is 59 cents per gallon lower than the average price last summer, and it would be the lowest average summer price since 2004. 


Based on this annual average price, the EIA estimates the average household will spend about $350 less on gasoline in 2016 than in 2015 and about $1,000 less than in 2014, when retail gasoline prices averaged more than $3 per gallon.

Monthly average gasoline prices are expected to increase to $2.08 per gallon in June, then fall to $1.93 in September.

In Arizona, gas prices are continuing to climb but at a lower rate. The statewide average as of April 7 was up nearly 4 cents to $2.126 per gallon, according to AAA Arizona.

“Despite increasing nearly 60 cents over the last month, the statewide average is at its lowest point for this same date since 2009,” said Linda Gorman, AAA Arizona spokeswoman. “More good news is that the price increases have started slowing down.”

In the United States, slightly more than half of the vehicle-miles driven in a year occur in the six months from April through September.

The EIA forecasts U.S. regular gasoline prices to average $1.94 per gallon for the full year.