According to the Energy Information Administration, motorists will save an average of $710 on gas this year. Although prices are not as low as they were in the beginning of the year, they also predict that there will be no other surprise price increases on the horizon.
Mike Right, of AAA Missouri, states that, “that’s great news now for the consumer, and over time prices will go up, especially switching to summer fuel from winter fuel. But that increase might not be nearly as severe as last year’s.”
Consistency in the price of gas comes as a welcomed surprise, considering that the current Kansas City gas prices are $2.28 – up sharply from the $1.99 price that was just a month ago. However, Kansas City’s gas tends to be slightly higher than compared to other locations, due to the higher fuel taxes. For newcomers, Kansas City movers suggest planning your move while prices are still relatively low, so that your mover’s fuel charge is much more affordable.
The national rise in gas prices comes in the wake of crude oil prices rising as well. However, that has not stopped oil producers from slowing their overall fuel output. Not only has Saudi Arabia refused to cut down on their oil production, but the United States is producing so much, that they are running out of room to store all the inventory.
Furthermore, the Energy Information Administration announced that it was lowering the 2015 estimate for the price of benchmark U.S. oil. While the February price projection for West Texas Intermediate was $55.02 a barrel, on Tuesday the administration announced that the price had fallen to $49.