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Summer gas price expected to dip 1 cent

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NEW YORK (AP) -

Drivers will get the slightest of breaks on gasoline prices this summer, according to the Energy Department.

The national average price is forecast to fall — by just one cent — to $3.57 per gallon between April and September, the months when Americans do most of their driving.

Still, that would be the lowest average since 2010. For the year, the Energy Department's Energy Information Administration expects gasoline to average $3.45 per gallon, down from $3.51 last year and also the lowest since 2010.

World demand for oil is growing, but supplies are growing faster, thanks to higher production in North and South America. The price of Brent crude, a benchmark used to price oil used by many U.S. refineries, is forecast to fall 4 percent this year.

 

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