Gas prices have been dropping for a month. According to the chief oil analyst with the Oil Price Information Service in this radio interview, expect prices to continue dropping to as low as $3.25 a gallon, but don't expect lower than $3.00.
On Weekend Edition, June 19, the NPR reporter notes that "the national average for a gallon of regular fuel is now $3.65. That's around 25 cents less than a month ago."
Tom Kloza, chief oil analyst with the Oil Price Information Service "suspects that most of the country is going to see $3.25 to $3.75 during the summer".
However, he warns that prices could spike due to "supply disruptions, particularly with unrest in the Middle East" or even go lower "if sovereign debt worries turn into a worldwide contagion and you see a recession in Europe or in the United States". Current fears about Greek debt already have caused "oil prices drop below $93 per barrel".
How will American car buyers react to dropping gas prices?
The Alliance of Automobile Manufacturers is pushing to "link federal fuel-economy and emissions targets to the price of gasoline, saying consumers won't pay enough for fuel-efficient cars to make them profitable if gas prices aren't high."
FULL STORY: Gas Prices Ease For Summer, But Don't Relax Yet
U.S. on Track to Record Oil Production This Year
The current U.S. record is 10 million barrels per day set in 1970. Last year averaged 9.2 million b/d. Experts believe that record will be reached this spring, if it hasn't already. Can Trump claim credit for the surging production?
Do Driverless Car Safety Features Merit Fuel Efficiency Credit?
Manufacturers say yes, arguing that the reduction in vehicle crashes decreases traffic congestion. Other features improve traffic flow. But these are safety technologies, not emission-reducing measures, that critics worry will water-down CAFE.
As Gas Prices Drop, VMT Rises
Sightline's Clark Williams-Derry looks at low gas prices, a down economy, and vehicle-miles-traveled, noting that the precipitous declines in VMT have halted, and suspects it may plateau.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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