Loading ...There is a rare bit of good news on the horizon for Americans planning to go off on their summer holiday in the near future, thanks to six straight days of decreases in the price of fuel. For much of this year, oil prices have increased to epic proportions, with some analysts estimating that by early June the price of fuel was well over 36 percent higher than it had been a year ago. Although gas prices are expected to stay high and further increases are likely, the current short-term decrease is good news, especially for those who plan to rent a car for their holiday, or for anyone planning a road trip.
The average price of regular petrol now stands at around $4.042 per gallon, according to CNN’s calculations, which in turn were based on the newest statistics provided by AAA. This represents a one cent drop over yesterday’s figures which were already lower than what drivers have seen over the course of the past several weeks. The price of fuel reached a record high of $4.114 per gallon approximately one week ago, but has continued fall back ever since.
Despite the current decline in fuel prices, most analysts predict that this is a temporary development and that the rate per gallon will begin increasing once again in the coming weeks. As such, those planning to rent a car in the next several days , or anyone organizing a longer trip in their own vehicle would be well advised to fill up now, before prices increase once again. Additionally, environmentalists are still calling for the development of alternate fuels and greener sources of energy and they expect that the steep price of oil will continue to make headlines later this year.
www.aaa.com
