Gas Prices are Going Down

The prices of gas in the United States fell for almost 17% in the average per gallon rate, and will probably continue to lessen more. Based on the Lundberg Survey the self-serve gasoline average price is at $3.74. In May 6 this year, the price went up to $4 per gallon in U.S. The survey performed on May 20, the gas price is at $3.90, which means there has been a decrease of about 26 cents per gallon over the previous month. There is a great possibility that the gas prices will go down continuously because there is an enormous supply of gasoline during the drop in the demand in U.S. because of the unemployment. The price of the crude oil is lower than $100 per barrel, while on June 10, the closing rate is at $99.29. On the other hand, the Survey states that regardless of the hike in the output from Saudi Arabia, there will be lower gas prices because of the high in supply and low in demand. On the other hand, the present rate is at $1 which is greater than last year, just like the prices of diesel. The decrease in gas prices is forecasted to be greater, but ethanol prices will increase. The greatest hike is in Chicago, which is $4.29 per gallon.