Road trips will be a bit cheaper this summer, according to a new government report. Drivers are expected to see the lowest seasonal gas prices since 2009.
The national average price is predicted to fall 32 percent since 2014, and it is expected to be $2.45 per gallon between April and September. Fortune reported that last year’s average was $3.59 per gallon during the busiest driving season.
Chief oil analyst at OPIS, Tom Kloza, said that the average is “very realistic.” However, it does not account for “some of the lumpiness” that will occur. Kloza predicted that the fluctuation in prices will be uneven and could drop below the $2 mark during the summer.
On Tuesday, the average cost of a regular gallon of gas was $2.38 nationwide. GasBuddy reported that this is 8 percent less than last month and $1.20 less than the same day last year.
The U.S. Energy Information Administration said Tuesday that cheaper gas will bring more drivers to the road. The EIA expects gas consumption to rise by 1.6 percent by the end of the summer.
President of transportation energy consulting firm Stillwater Associates in Irvine, Calif. David Hackett said that the lower gas prices could affect car buyers’ decisions. Hackett said that people may think less about a vehicle’s fuel-efficiency and think, “I can buy myself an F-150 truck.”
Gas prices have been climbing since January 26 marking the end of the steady decline that began in September. The nationwide average was at its lowest in 2009, and it was $2.03 per gallon.
The decline reflects the world’s oil supply growing faster than demand. The U.S. was the largest producer of petroleum in the world in 2014, according to LA Times.
The EIA predicts that the price of benchmark Brent crude oil will drop 46 percent to an average of $58 a barrel this summer. Prices are predicted to moderately rise in 2016.
The government also predicts that prices could fall even lower if current negotiations result in lifted oil-related sanctions against Iran. The EIA said that Iran holds 30 million barrels of oil, at the least, and can increase production quickly.
