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Posted: 1:20 p.m. Monday, Jan. 14, 2013

Predictions show cheaper gasoline prices for 2013

Largest factor will be strength of U.S. economy

Gas Pumps
Gasoline pumps at the QuikTrip at 36th and Peoria (file photo)

By April Hill

AAA Oklahoma says the lower expected price is due to increased domestic oil production and lower demand.

Experts predict that the national average won't reach $4.00 a gallon and should peak to about $3.80 a gallon in April.

GasBuddy, a gas price watchdog group, says the largest factor that will influence gasoline prices in 2013 will be the strength of the U.S. economy.

Gregg Laskoski, Senior Petroleum Analyst for GasBuddy, says, “Even with increasing energy production in the U.S., declining fuel consumption and improving fuel efficiency, Americans may still face rising gasoline prices in 2013. And that appears to be closely tied to the nation's $16 trillion debt.”  

A stronger than expected growth in the economy would raise the price because of higher consumption.

A weaker than expected economy would drive prices down.

 
 
 

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