Gov’t cuts gas price forecast

Published 6:00 am Wednesday, May 9, 2012

    The government says gasoline will be cheaper this summer than previously expected thanks to a drop in the price of oil.

    The Energy Department says drivers should pay an average of $3.79 per gallon at the pump from April through September. That’s down 16 cents from last month’s outlook and not that dramatic an increase from last summer’s average of $3.71 per gallon.

    On Tuesday GasBuddy.com reported the current national average for gasoline as $3.75 per gallon. The average price statewide Tuesday was $3.54 per gallon. The lowest gasoline prices in Lauderdale County were:

    • Meridian: $3.45 at Sam’s Club, 715 Bonita Drive and Hawkins Crossing Drive; and $3.49 at TA Travel Center, 2239 Russell Mt. Gilead Road and Interstate 20-59, Pilot, 1555 Tommy Webb Drive and Interstate 20-59, and Spaceway Truck Plaza, 10580 Highway 80 W., near I-20 Exit 129.

    • Collinsville: $3.59 at Chisloms, 9128 Highway 19 North and Collinsville Road.

    • Marion: $3.68 at Texaco, 5200 Dale Drive and Northeast Industrial Park Road; and Chevron, 5211 Dale Drive and Lindley Road.

    This month’s forecast is a reversal from previous warnings of a sharp rise in gasoline prices. The government had said last month that gasoline prices in May could jump above a monthly average of $4.01 per gallon.

    Oil prices have dropped about $7 per barrel since April 2.  

    The national average for gas has declined 17 cents since early April to $3.76 per gallon on Tuesday.