The shale boom precipitated the global crude price collapse, and is therefore one of the main reasons why gas is so cheap today.
Officials with Triple-A Arizona said Thursday the average statewide price for unleaded regular gasoline is $2.27 per gallon, up by almost a penny from last week.
"Usually gas prices between mid-February and Memorial Day increase somewhere from 25 cents to 70 cents", [Patrick DeHaan, senior petroleum analyst for GasBuddy] said.
AAA forecasts the Oklahoma pump price average will hit a peak of $2.40 this summer and the national average will top out at $2.70. Nationwide, prices rose more than 3 cents in the past week to just above $2.40 a gallon. Friday's daily settlement of $52.24 per barrel is the highest since March 7. That is $0.37 more per gallon compared to past year and $.06 more than last week. Dallas and Fort Worth have the highest average gas prices in Texas at $2.34 per gallon.
"As we head into the summer driving season, gas prices will continue to be a major factor for motorists", said AAA Carolinas President and CEO Dave Parsons. Drivers in Dallas are paying the most on average at $2.34 per gallon while drivers in San Antonio are paying the least at $2.15 per gallon. For every five miles per hour over 65 mph, gasoline efficiency decreases 10 percent. The average price is up from $1.96 per gallon during the Easter holiday a year ago.
To estimate fuel costs, travelers can go to * a href="https://cts.vrmailer1.com/click?sk=aWYsB2JgVjBJKQplSAOoF5GcyABUY2hOg7GomeSn_wQc=/aHR0cDovL3d3dy5mdWVsY29zdGNhbGN1bGF0b3IuY29tLw==/-DWo79JLxXqp6pnrRgGkeg==&merge_field_type=(?x-mi:(?%3C=href=)%5B%5Cs%5D*%5B%27%22%5D (?%3Curl%3E%5B%5E%7B%27%22%5D.+?)%5B%27%22%5D)&href_id_source=vr2-href-id-source-2" *www.fuelcostcalculator.com to input starting city, destination, and the make and model of their vehicle.