Why Experts Predict Another Gas Price Dip on the Horizon Despite Spring Break Hike

Taking a moment to refuel stock photo
Adene Sanchez / iStock.com

You might have noticed gas prices going up recently. That cost hike is due to increased demand from spring break travelers and the switch to the more expensive-to-produce summer blend at the pump.

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But, this price increase may be short-lived. Experts predicted that the Federal Reserve will likely bump up the interest rate again. In response, the expected gas demand decreased, and the crude oil price dropped.

The result? Potentially cheaper gas — at least for a while.

Trending Downward

The cost of gasoline is expected to go up this summer, which is typical for the season. However, the overall price is trending downward. According to the American Automobile Association (AAA), the average gas price in the country reached $5 per gallon in June of 2022.

Fortunately, the average gas price this summer should be significantly less. Most drivers can expect to pay around $4 per gallon.

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How To Save Money at the Pump

You can reduce your automobile fuel expense no matter what the economy does by implementing these simple tips:

  • Use your smartphone. Many mobile apps, like GasBuddy, can help you find the cheapest gas prices in your area.
  • Go easy on the gas pedal. Aggressive driving will drain your gas tank faster.
  • Keep your tires properly inflated. Underinflated tires cause your engine to work harder to move your car, which burns more fuel to travel the same distance.
  • Reduce your vehicle’s cargo weight as much as possible. The lighter your car, the less gas it will use.

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Bonus tip: Keep cash on hand. Some gas stations offer a discount if you pay with cash because they won’t have to pay a credit card transaction processing fee.

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About the Author

Laura has been a freelance writer since 2018. Her work primarily focuses on managing your money, navigating your career, and running a successful business. She earned her MBA and a Bachelor's degree in Psychology during her previous career in human resources. She is also a business coach to new and aspiring freelancers and runs an online resource hub for them called Before You Go Freelance. In addition, she helps other writers get clear on their message, plan their content, and produce compelling written works.
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