Gas And Diesel Prices Continue To Drop

By Molly Daly

For most drivers in the Northeastern United States, filling the gas tank isn’t particularly painful these days. An industry expert says that trend is likely to continue.

Tom Kloza, the global head of energy analysis for the Oil Price Information Service, says that with a market awash in oil trading for $42 bucks a barrel, the future’s so bright, we’re gonna need shades.

“We’re seeing the lowest prices for diesel, the lowest prices for heating oil, the lowest prices for jet fuel that we’ve seen since 2009,” says Kloza, “and we will see those prices for gasoline, somewhere below $2 for most folks.”

Kloza says in the first half of the year, American drivers spent about $65 billion dollars less on gasoline than they did in the same period in 2014.

“In the second half of the year, my forecast is that we’ll save about $50 billion.” says Kloza. “Now, not all of that is going for consumer expenses. Some of it is for travel, restaurants, or whatever, but it looks as though a lot of people are actually saving some, so that’s something interesting that we haven’t seen in a while “

More from Molly Daly
Comments

Comments are closed.

More From CBS Philly

2016 Guide To Holiday Mall Hours
What's New On The Nearby Slopes

Listen Live